Atlanta Capital Management Co. L L C lowered its holdings in State Bank Financial Corp (NASDAQ:STBZ) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,303,889 shares of the financial services provider’s stock after selling 17,998 shares during the period. Atlanta Capital Management Co. L L C owned about 3.34% of State Bank Financial worth $37,356,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its holdings in State Bank Financial by 459.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,538 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 3,727 shares in the last quarter. US Bancorp DE increased its stake in State Bank Financial by 5.1% in the 2nd quarter. US Bancorp DE now owns 5,200 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 252 shares during the last quarter. Sei Investments Co. increased its stake in State Bank Financial by 46.0% in the 2nd quarter. Sei Investments Co. now owns 5,648 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 1,779 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in State Bank Financial in the 2nd quarter worth about $204,000. Finally, Gratus Capital LLC bought a new position in State Bank Financial in the 2nd quarter worth about $206,000. 78.94% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Gabelli lowered State Bank Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded State Bank Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, BidaskClub upgraded State Bank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.00.
State Bank Financial (NASDAQ:STBZ) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $54.01 million during the quarter, compared to analysts’ expectations of $56.15 million. State Bank Financial had a return on equity of 8.44% and a net margin of 22.79%. equities analysts expect that State Bank Financial Corp will post 1.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, December 4th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, December 1st. State Bank Financial’s dividend payout ratio is presently 41.79%.
In related news, insider Bradford L. Watkins sold 1,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $27.14, for a total transaction of $27,140.00. Following the completion of the sale, the insider now directly owns 72,500 shares in the company, valued at approximately $1,967,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.65% of the company’s stock.
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State Bank Financial Company Profile
State Bank Financial Corporation is a bank holding company for State Bank and Trust Company (the Bank). The Bank is a Georgia-based state-chartered bank. The Company offers community banking services to individuals and businesses. Its product line includes loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, farmland and agricultural production loans, residential mortgage loans, home equity loans, and consumer loans.
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