The stock of Stonegate Bank (NASDAQ:SGBK) hit a new 52-week high and has $63.20 target or 86.00% above today’s $33.98 share price. The 6 months bullish chart indicates low risk for the $435.54M company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $63.20 price target is reached, the company will be worth $374.56 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. About 20,132 shares traded hands. Stonegate Bank (NASDAQ:SGBK) has risen 16.97% since February 26, 2016 and is uptrending. It has outperformed by 6.54% the S&P500.
Analysts await Stonegate Bank (NASDAQ:SGBK) to report earnings on October, 28. They expect $0.56 earnings per share, up 5.66% or $0.03 from last year’s $0.53 per share. SGBK’s profit will be $7.18M for 15.17 P/E if the $0.56 EPS becomes a reality. After $0.54 actual earnings per share reported by Stonegate Bank for the previous quarter, Wall Street now forecasts 3.70% 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 stock of Stonegate Bank (NASDAQ:SGBK) earned “Buy” rating by Sandler O’Neill on Thursday, May 26. The stock of Stonegate Bank (NASDAQ:SGBK) earned “Outperform” rating by Hovde Group on Wednesday, September 21.
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 begins offering credit cards that will work in Cuba” on June 15, 2016, also Sun-Sentinel.com with their article: “Stonegate Bank to acquire Davie-based Regent Bank” published on April 26, 2016, Miamiherald.com published: “Stonegate Bank should be ready to handle transactions with Cuba in three to …” on July 23, 2015. More interesting news about Stonegate Bank (NASDAQ:SGBK) were released by: Miamiherald.com and their article: “Banking on Cuba: Stonegate Bank sees more opportunities for growth” published on October 04, 2015 as well as Miamiherald.com‘s news article titled: “U.S. travelers in Cuba can now use Stonegate Bank debit card” with publication date: November 19, 2015.
SGBK Company Profile
Stonegate Bank, incorporated on January 13, 2005, provides a range of business and consumer financial services. The Bank also provides a range of banking services to individual and corporate customers. The Bank provides personal banking, business banking and wealth management services. The Company’s personal banking products include checking, money market, savings, certificates of deposit, individual retirement accounts (IRAs), consumer loans and residential mortgage loans. The Company’s business banking products include checking, money market, savings, certificates of deposit, commercial loans, cash management, merchant credit card processing, professional associations and non-profit organizations. Wealth management offers asset management, trust services, estate planning, insurance planning and retirement planning for business owners. As of December 31, 2014, the Bank operated 14 service-banking centers in Florida. The Bank offers contemporary services and products, such as debit cards, Internet banking and electronic bill payment services.
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