State Bank Financial (STBZ) Downgraded by BidaskClub

BidaskClub lowered shares of State Bank Financial (NASDAQ:STBZ) from a sell rating to a strong sell rating in a research report released on Friday morning.

STBZ has been the subject of a number of other research reports. Zacks Investment Research lowered State Bank Financial from a hold rating to a sell rating in a research note on Tuesday, August 7th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $39.50 target price on shares of State Bank Financial in a research note on Wednesday, August 8th. Finally, ValuEngine downgraded State Bank Financial from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. State Bank Financial currently has an average rating of Hold and a consensus price target of $33.83.

Shares of NASDAQ STBZ opened at $24.10 on Friday. State Bank Financial has a twelve month low of $23.58 and a twelve month high of $35.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $935.08 million, a price-to-earnings ratio of 16.51, a PEG ratio of 0.81 and a beta of 0.99.

State Bank Financial (NASDAQ:STBZ) last posted its earnings results on Monday, October 22nd. The financial services provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.11). The firm had revenue of $68.32 million during the quarter, compared to analyst estimates of $68.65 million. State Bank Financial had a net margin of 19.96% and a return on equity of 11.91%. As a group, sell-side analysts anticipate that State Bank Financial will post 2.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, December 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, November 30th. State Bank Financial’s payout ratio is currently 54.79%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in State Bank Financial by 32.9% during the second quarter. BlackRock Inc. now owns 2,791,772 shares of the financial services provider’s stock valued at $93,246,000 after purchasing an additional 690,381 shares in the last quarter. Bank of America Corp DE grew its position in shares of State Bank Financial by 282.8% during the 2nd quarter. Bank of America Corp DE now owns 826,358 shares of the financial services provider’s stock valued at $27,600,000 after acquiring an additional 610,478 shares during the period. Alpine Associates Management Inc. grew its position in shares of State Bank Financial by 292.0% during the 3rd quarter. Alpine Associates Management Inc. now owns 631,174 shares of the financial services provider’s stock valued at $19,049,000 after acquiring an additional 470,169 shares during the period. Water Island Capital LLC bought a new position in State Bank Financial in the 2nd quarter worth approximately $12,859,000. Finally, Chicago Capital Management LLC purchased a new stake in State Bank Financial in the 2nd quarter worth approximately $7,568,000. Institutional investors own 76.93% of the company’s stock.

State Bank Financial Company 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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Analyst Recommendations for State Bank Financial (NASDAQ:STBZ)

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