State Bank Financial (NASDAQ:STBZ) was downgraded by research analysts at Gabelli from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
A number of other brokerages also recently issued reports on STBZ. Zacks Investment Research raised shares of State Bank Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. BidaskClub raised shares of State Bank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.00.
Shares of State Bank Financial (NASDAQ:STBZ) opened at $30.31 on Thursday. State Bank Financial has a twelve month low of $24.16 and a twelve month high of $31.75. The company has a market cap of $1,186.91, a PE ratio of 22.06, a PEG ratio of 1.65 and a beta of 0.95.
State Bank Financial (NASDAQ:STBZ) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. State Bank Financial had a net margin of 22.79% and a return on equity of 8.44%. The firm had revenue of $54.01 million for the quarter, compared to the consensus estimate of $56.15 million. equities analysts forecast that State Bank Financial will post 1.51 earnings per share for the current year.
In other news, insider Bradford L. Watkins sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $27.14, for a total value of $27,140.00. Following the sale, the insider now directly owns 72,500 shares of the company’s stock, valued at approximately $1,967,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.65% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in STBZ. BNP Paribas Arbitrage SA boosted its holdings in shares of State Bank Financial by 459.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,538 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 3,727 shares during the last quarter. US Bancorp DE boosted its holdings in shares of State Bank Financial by 5.1% in the 2nd quarter. US Bancorp DE now owns 5,200 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 252 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of State Bank Financial by 46.0% in the 2nd quarter. Sei Investments Co. now owns 5,648 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 1,779 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of State Bank Financial in the 2nd quarter valued at $204,000. Finally, Gratus Capital LLC purchased a new stake in shares of State Bank Financial in the 2nd quarter valued at $206,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.
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State Bank Financial Company Profile
State Bank Financial Corporation is a bank holding company for State Bank and Trust Company (the Bank). The Bank is a Georgia-based state-chartered bank. The Company offers community banking services to individuals and businesses. Its product line includes loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, farmland and agricultural production loans, residential mortgage loans, home equity loans, and consumer loans.
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