Maltese Capital Management LLC raised its position in State Bank Financial Corp (NASDAQ:STBZ) by 1,700.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,000 shares of the financial services provider’s stock after buying an additional 170,000 shares during the quarter. Maltese Capital Management LLC’s holdings in State Bank Financial were worth $6,012,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in State Bank Financial in the 1st quarter valued at $106,000. Stratos Wealth Partners LTD. acquired a new position in State Bank Financial in the 1st quarter valued at $106,000. Meeder Asset Management Inc. grew its holdings in State Bank Financial by 57.3% in the 1st quarter. Meeder Asset Management Inc. now owns 4,982 shares of the financial services provider’s stock valued at $150,000 after buying an additional 1,814 shares in the last quarter. Sheets Smith Wealth Management acquired a new position in State Bank Financial in the 2nd quarter valued at $223,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of State Bank Financial during the 1st quarter worth $203,000. 77.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of STBZ stock opened at $32.75 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.02. State Bank Financial Corp has a twelve month low of $25.41 and a twelve month high of $35.99. The firm has a market cap of $1.26 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88.
State Bank Financial (NASDAQ:STBZ) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.07). State Bank Financial had a return on equity of 10.64% and a net margin of 20.06%. The business had revenue of $67.05 million for the quarter, compared to the consensus estimate of $67.60 million. research analysts expect that State Bank Financial Corp will post 2.18 earnings per share for the current fiscal year.
STBZ has been the topic of several analyst reports. FIG Partners reissued an “outperform” rating on shares of State Bank Financial in a report on Thursday, April 26th. Zacks Investment Research upgraded State Bank Financial from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, July 3rd. SunTrust Banks downgraded State Bank Financial from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. BidaskClub upgraded State Bank Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Finally, ValuEngine downgraded State Bank Financial from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $36.08.
State Bank Financial Profile
State Bank Financial Corporation operates as the bank holding company for State Bank and Trust Company that provides various community banking services to individuals and businesses. The company's deposit products and services include checking, commercial operating, savings and money market, and individual retirement accounts, as well as short- to longer-term certificates of deposit, commercial and consumer demand deposit, and savings and time deposit products.
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