The stock of Stonegate Bank (NASDAQ:SGBK) hit a new 52-week high and has $40.77 target or 3.00% above today’s $39.58 share price. The 6 months bullish chart indicates low risk for the $565.44 million company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $40.77 price target is reached, the company will be worth $16.96 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 1.30% or $0.52 during the last trading session, hitting $39.58. About 80,607 shares traded hands or 44.48% up from the average. Stonegate Bank (NASDAQ:SGBK) has risen 31.69% since April 22, 2016 and is uptrending. It has outperformed by 26.28% the S&P500.
Analysts await Stonegate Bank (NASDAQ:SGBK) to report earnings on January, 26. They expect $0.57 earnings per share, up 1.79% or $0.01 from last year’s $0.56 per share. SGBK’s profit will be $8.14 million for 17.36 P/E if the $0.57 EPS becomes a reality. After $0.55 actual earnings per share reported by Stonegate Bank for the previous quarter, Wall Street now forecasts 3.64% EPS growth.
Stonegate Bank (NASDAQ:SGBK) Ratings Coverage
Out of 3 analysts covering Stonegate Bank (NASDAQ:SGBK), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Stonegate Bank has been the topic of 3 analyst reports since October 27, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Wednesday, September 21 by Hovde Group. The firm earned “Buy” rating on Thursday, May 26 by Sandler O’Neill.
According to Zacks Investment Research, “Stonegate Bank, headquartered in Fort Lauderdale, Florida, provides various commercial and private banking services. It offers a range of products, including checking accounts, money market accounts, savings accounts, lines of credit, term loans, commercial mortgage loans, construction lending, commercial services, express banking, and check cards. The bank also provides credit cards, certificates of deposit, individual retirement accounts, and residential mortgages. In addition, the bank offers financial planning and asset management services for high net worth individuals and businesses, including portfolio management, estate planning, retirement plans, tax reduction strategies, asset allocation, risk management, and insurance analysis.”
More notable recent Stonegate Bank (NASDAQ:SGBK) news were published by: Miamiherald.com which released: “Stonegate Bank to acquire Sarasota competitor in $36.5 million deal” on August 25, 2016, also Miamiherald.com with their article: “Stonegate Bank begins offering credit cards that will work in Cuba” published on June 15, 2016, Sun-Sentinel.com published: “Stonegate Bank to acquire Davie-based Regent Bank” on April 26, 2016. More interesting news about Stonegate Bank (NASDAQ:SGBK) were released by: Miamiherald.com and their article: “Stonegate Bank should be ready to handle transactions with Cuba in three to …” published on July 23, 2015 as well as Sun-Sentinel.com‘s news article titled: “Five questions about Cuba with Dave Seleski of Stonegate Bank” with publication date: July 31, 2015.
SGBK Company Profile
Stonegate Bank (the Bank), incorporated on January 13, 2005, is a state chartered commercial bank in the State of Florida. The Bank provides a full range of banking services to individual and corporate clients from its branch locations in Southeast and West Florida. The Bank provides personal banking, business banking and wealth management services. The Company’s personal banking services include checking account, money market, savings account, certificate of deposits, individual retirement accounts, consumer loans and residential mortgage loans. The Company’s personal banking additional services include online banking, mobile banking, courier service, wire transfers, official checks, travelers checks, foreign currency, automatic loan payments, safe deposit boxes, night depository, automated teller machines, check imaging, notary service, direct deposit, bank by mail and reorder checks online. It also offers card services, such as credit cards and debit cards. The Company’s wealth management services include asset management, trust services, estate planning, insurance planning and retirement planning for business owners.
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