Stonegate Bank (SGBK) Shares Sold by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC cut its position in Stonegate Bank (NASDAQ:SGBK) by 20.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,705 shares of the bank’s stock after selling 11,051 shares during the period. TIAA CREF Investment Management LLC owned about 0.29% of Stonegate Bank worth $1,964,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Stonegate Bank by 14.3% in the first quarter. Wellington Management Group LLP now owns 1,104,277 shares of the bank’s stock worth $52,001,000 after buying an additional 138,109 shares during the last quarter. Chicago Capital Management LLC purchased a new stake in Stonegate Bank during the first quarter worth about $25,193,000. State Street Corp raised its stake in Stonegate Bank by 39.7% in the fourth quarter. State Street Corp now owns 232,847 shares of the bank’s stock worth $9,718,000 after buying an additional 66,168 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Stonegate Bank by 40.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 223,219 shares of the bank’s stock worth $9,315,000 after buying an additional 63,881 shares in the last quarter. Finally, Context BH Capital Management LP raised its stake in Stonegate Bank by 34.8% in the first quarter. Context BH Capital Management LP now owns 115,529 shares of the bank’s stock worth $5,440,000 after buying an additional 29,845 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.

Stonegate Bank (NASDAQ SGBK) opened at 46.36 on Friday. The firm has a 50-day moving average of $46.54 and a 200 day moving average of $46.32. The firm has a market cap of $710.19 million, a price-to-earnings ratio of 21.59 and a beta of 0.45. Stonegate Bank has a 1-year low of $31.87 and a 1-year high of $48.53.

Stonegate Bank (NASDAQ:SGBK) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $29.68 million during the quarter, compared to analysts’ expectations of $32.35 million. Analysts expect that Stonegate Bank will post $2.44 earnings per share for the current fiscal year.

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A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Stonegate Bank from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Finally, Zacks Investment Research lowered shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $49.33.

Stonegate Bank Company Profile

Stonegate Bank (the Bank) is a state chartered commercial bank in the State of Florida. The Bank provides a full range of banking services to individual and corporate customers from its branch locations in Southeast and West Florida. The Bank provides personal banking, business banking and wealth management services.