Xact Kapitalforvaltning AB Takes $230,000 Position in State Bank Financial (STBZ)

Xact Kapitalforvaltning AB bought a new position in shares of State Bank Financial (NASDAQ:STBZ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,709 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of State Bank Financial by 17.4% during the fourth quarter. Bank of New York Mellon Corp now owns 207,050 shares of the financial services provider’s stock worth $6,179,000 after purchasing an additional 30,761 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of State Bank Financial by 8.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,198,614 shares of the financial services provider’s stock worth $34,340,000 after purchasing an additional 94,752 shares in the last quarter. Millennium Management LLC boosted its position in shares of State Bank Financial by 23.5% during the fourth quarter. Millennium Management LLC now owns 693,766 shares of the financial services provider’s stock worth $20,702,000 after purchasing an additional 132,207 shares in the last quarter. Royce & Associates LP boosted its position in shares of State Bank Financial by 4.1% during the fourth quarter. Royce & Associates LP now owns 882,928 shares of the financial services provider’s stock worth $26,347,000 after purchasing an additional 34,971 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in shares of State Bank Financial by 43.0% during the fourth quarter. Thrivent Financial For Lutherans now owns 81,328 shares of the financial services provider’s stock worth $2,427,000 after purchasing an additional 24,455 shares in the last quarter. 79.29% of the stock is owned by hedge funds and other institutional investors.

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A number of equities analysts have recently weighed in on STBZ shares. Zacks Investment Research raised shares of State Bank Financial from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, February 1st. Gabelli raised shares of State Bank Financial from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Friday, January 26th. SunTrust Banks reissued a “buy” rating and set a $38.00 price target on shares of State Bank Financial in a research report on Tuesday, January 9th. BidaskClub raised shares of State Bank Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 24th. Finally, ValuEngine raised shares of State Bank Financial from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $34.00.

In related news, CFO Sheila Ray acquired 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $29.50 per share, with a total value of $97,350.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.65% of the company’s stock.

STBZ opened at $31.12 on Tuesday. The firm has a market capitalization of $1,196.00, a P/E ratio of 21.32, a P/E/G ratio of 1.15 and a beta of 0.93. State Bank Financial has a 12 month low of $24.65 and a 12 month high of $31.75.

State Bank Financial (NASDAQ:STBZ) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $68.16 million for the quarter, compared to analysts’ expectations of $65.00 million. State Bank Financial had a net margin of 18.77% and a return on equity of 9.26%. equities analysts predict that State Bank Financial will post 2.18 earnings per share for the current fiscal year.

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State Bank Financial Profile

State Bank Financial Corporation operates as the bank holding company for State Bank and Trust Company that provides various community banking services to individuals and businesses. The company's deposit products and services include checking, commercial operating, savings and money market, and individual retirement accounts, as well as short- to longer-term certificates of deposit, commercial and consumer demand deposit, and savings and time deposit products.

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Institutional Ownership by Quarter for State Bank Financial (NASDAQ:STBZ)

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