State Bank Financial Corp (NASDAQ:STBZ) has been given an average recommendation of “Hold” by the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.67.
A number of research analysts have commented on STBZ shares. Zacks Investment Research upgraded 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 Wednesday, September 26th. BidaskClub cut shares of State Bank Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Keefe, Bruyette & Woods upgraded shares of State Bank Financial from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $39.50 to $37.00 in a research report on Thursday. Finally, ValuEngine cut shares of State Bank Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in shares of State Bank Financial in the first quarter worth approximately $203,000. Stone Ridge Asset Management LLC bought a new position in shares of State Bank Financial in the third quarter worth approximately $206,000. Sheets Smith Wealth Management bought a new position in shares of State Bank Financial in the second quarter worth approximately $223,000. Meeder Asset Management Inc. grew its holdings in shares of State Bank Financial by 57.6% in the second quarter. Meeder Asset Management Inc. now owns 7,851 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 2,869 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of State Bank Financial by 28.7% in the first quarter. California Public Employees Retirement System now owns 10,901 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 2,433 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.
State Bank Financial (NASDAQ:STBZ) last issued its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.11). State Bank Financial had a net margin of 19.96% and a return on equity of 11.98%. The business had revenue of $68.32 million for the quarter, compared to the consensus estimate of $68.65 million. As a group, sell-side analysts forecast that State Bank Financial will post 2.2 EPS for the current fiscal year.
About State Bank Financial
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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