The stock of Stonegate Bank (NASDAQ:SGBK) reached all time high today, Oct, 7 and still has $46.24 target or 36.00% above today’s $34.00 share price. This indicates more upside for the $436.58 million company. This technical setup was reported by Barchart.com. If the $46.24 PT is reached, the company will be worth $157.17 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 30,725 shares traded hands. Stonegate Bank (NASDAQ:SGBK) has risen 15.98% since March 4, 2016 and is uptrending. It has outperformed by 7.94% the S&P500.
Analysts await Stonegate Bank (NASDAQ:SGBK) to report earnings on October, 28. They expect $0.56 EPS, up 5.66% or $0.03 from last year’s $0.53 per share. SGBK’s profit will be $7.19 million for 15.18 P/E if the $0.56 EPS becomes a reality. After $0.54 actual EPS 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 firm has “Outperform” rating by Hovde Group given on Wednesday, September 21. Sandler O’Neill reinitiated Stonegate Bank (NASDAQ:SGBK) on Thursday, May 26 with “Buy” rating.
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: Sun-Sentinel.com and their article: “Stonegate Bank of Pompano Beach signs historic banking deal in Cuba” published on July 22, 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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