Price Action To Observe: Stonegate Bank’s Stock Is Buy After Achieving All Time High

Price Action To Observe: Stonegate Bank's Stock Is Buy After Achieving All Time High

The stock of Stonegate Bank (NASDAQ:SGBK) reached all time high today, Nov, 22 and still has $42.91 target or 8.00% above today’s $39.73 share price. This indicates more upside for the $563.91M company. This technical setup was reported by Barchart.com. If the $42.91 PT is reached, the company will be worth $45.11M 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 38,583 shares traded hands. Stonegate Bank (NASDAQ:SGBK) has risen 29.91% since April 20, 2016 and is uptrending. It has outperformed by 25.36% the S&P500.

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 has “Buy” rating given by Sandler O’Neill on Thursday, May 26. The stock has “Outperform” rating given 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 to acquire Sarasota competitor in $36.5 million deal” on August 25, 2016, also Miamiherald.com with their article: “Stonegate Bank should be ready to handle transactions with Cuba in three to …” published on July 23, 2015, Miamiherald.com published: “Stonegate Bank begins offering credit cards that will work in Cuba” on June 15, 2016. More interesting news about Stonegate Bank (NASDAQ:SGBK) were released by: Sun-Sentinel.com and their article: “Stonegate Bank to acquire Davie-based Regent Bank” published on April 26, 2016 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 (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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