State Bank Financial (STBZ) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of State Bank Financial (NASDAQ:STBZ) from a sell rating to a hold rating in a report published on Thursday morning.

According to Zacks, “State Bank Financial Corporation through its subsidiary provides community banking services to individuals and businesses in the middle Georgia and metropolitan Atlanta markets. Products offered by the Company include checking accounts, commercial accounts, savings accounts, retirement accounts, time deposits and various loans. The Company also provides services including online banking and bill payment, online cash management, safe deposit box rental, debit card, and ATM card services. State Bank Financial Corporation is headquartered in Atlanta, Georgia. “

Other research analysts have also recently issued research reports about the company. BidaskClub cut State Bank Financial from a buy rating to a hold rating in a research note on Wednesday, December 27th. Sandler O’Neill raised State Bank Financial from a hold rating to a buy rating and set a $35.00 target price for the company in a research note on Friday, December 15th. Gabelli cut State Bank Financial from a buy rating to a hold rating in a research note on Thursday, November 30th. SunTrust Banks reaffirmed a buy rating and set a $38.00 target price on shares of State Bank Financial in a research note on Tuesday, January 9th. Finally, ValuEngine cut State Bank Financial from a buy rating to a hold rating in a research note on Wednesday, December 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $33.25.

Shares of State Bank Financial (STBZ) traded up $0.06 on Thursday, hitting $31.36. The stock had a trading volume of 83,800 shares, compared to its average volume of 97,344. The firm has a market capitalization of $1,222.78, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.95. State Bank Financial has a 52 week low of $24.16 and a 52 week high of $31.75.

State Bank Financial (NASDAQ:STBZ) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. State Bank Financial had a return on equity of 8.44% and a net margin of 22.79%. The business had revenue of $54.01 million during the quarter, compared to analysts’ expectations of $56.15 million. research analysts anticipate that State Bank Financial will post 1.52 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in State Bank Financial by 459.6% during the second quarter. BNP Paribas Arbitrage SA now owns 4,538 shares of the financial services provider’s stock valued at $123,000 after buying an additional 3,727 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of State Bank Financial in the 2nd quarter valued at $204,000. Susquehanna International Group LLP acquired a new position in shares of State Bank Financial in the 2nd quarter valued at $215,000. SG Americas Securities LLC acquired a new position in shares of State Bank Financial in the 3rd quarter valued at $230,000. Finally, Legal & General Group Plc boosted its position in shares of State Bank Financial by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 9,419 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 716 shares during the period. 78.94% of the stock is owned by institutional investors and hedge funds.

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About State Bank Financial

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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