State Bank Financial (STBZ) Upgraded by Zacks Investment Research to Buy

State Bank Financial (NASDAQ:STBZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $37.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.85% from the stock’s previous close.

According to Zacks, “State Bank Financial Corporation through its subsidiary provides community banking services to individuals and businesses in the middle Georgia and metropolitan Atlanta markets. Products offered by the Company include checking accounts, commercial accounts, savings accounts, retirement accounts, time deposits and various loans. The Company also provides services including online banking and bill payment, online cash management, safe deposit box rental, debit card, and ATM card services. State Bank Financial Corporation is headquartered in Atlanta, Georgia. “

STBZ has been the subject of several other research reports. Sandler O’Neill lowered shares of State Bank Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. BidaskClub raised shares of State Bank Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 24th. ValuEngine raised shares of State Bank Financial from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. SunTrust Banks lowered shares of State Bank Financial from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Finally, FIG Partners reissued an “outperform” rating on shares of State Bank Financial in a report on Thursday, April 26th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $34.50.

State Bank Financial opened at $33.08 on Tuesday, MarketBeat Ratings reports. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.30 billion, a PE ratio of 22.66, a PEG ratio of 1.11 and a beta of 0.94. State Bank Financial has a 1-year low of $25.41 and a 1-year high of $35.99.

State Bank Financial (NASDAQ:STBZ) last issued its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $65.32 million during the quarter, compared to analysts’ expectations of $65.25 million. State Bank Financial had a return on equity of 9.78% and a net margin of 19.79%. analysts expect that State Bank Financial will post 2.22 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in STBZ. Schwab Charles Investment Management Inc. grew its holdings in shares of State Bank Financial by 7.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 208,042 shares of the financial services provider’s stock worth $6,208,000 after buying an additional 14,186 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of State Bank Financial during the fourth quarter worth $386,000. California Public Employees Retirement System purchased a new stake in shares of State Bank Financial during the fourth quarter worth $253,000. Wells Fargo & Company MN grew its holdings in shares of State Bank Financial by 24.9% during the fourth quarter. Wells Fargo & Company MN now owns 67,187 shares of the financial services provider’s stock worth $2,005,000 after buying an additional 13,414 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 buying an additional 30,761 shares in the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

State Bank Financial Company 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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Analyst Recommendations for State Bank Financial (NASDAQ:STBZ)

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