Shares are trading at $51.62 which is just over the 50 day moving average which is $47.32 and which is quite a bit higher than the 200 day moving average of $46.50. The 50 day moving average was up by +9.08% and the 200 day average went up $5.12 or +11.00%. Trading was heavy with 789K shares changing hands in the last trading session. Volume was up 514.57% over the stocks average daily volume.
Investors are a little more bearish on shares of Stonegate Bank recently if you take into consideration the uptick in short interest. The firm realized a rise in short interest between August 31, 2017 and September 15, 2017 of 15.36%. Short interest grew 55,733 over that period. Days to cover decreased from 3.0 to 1.0 and the percentage of shorted shares was 0.03% on September 15.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Chicago Capital Management, LLC had disposed of 472,838 shares trimming its stake by 88.4%. The value of the investment in SGBK went from $25,193,000 to $2,871,000 decreasing 88.6% for the reporting period. Jcsd Capital, LLC grew its holdings by buying 89,584 shares an increase of 162.7%. Jcsd Capital, LLC now holds 144,643 shares with a value of $6,680,000. The value of the position overall is up by 157.6%.
As of quarter end Elizabeth Park Capital Advisors, Ltd. had sold a total of 8,200 shares trimming its holdings by 8.6%. The value of the investment in Stonegate Bank decreased from $4,510,000 to $4,044,000 a change of $466,000 quarter to quarter. Context Bh Capital Management, Lp augmented its investment by buying 579,155 shares an increase of 501.3% in the quarter. Context Bh Capital Management, Lp claims 694,684 shares worth $32,081,000. The total value of its holdings increased 489.7%.
The company is up by 1.16%% since yesterday’s close of 51.03. Stonegate Bank also announced a dividend that was paid on Fri Sep 29, 2017. The dividend payment was $0.080 per share for the quarter which comes to $0.32 on an annualized basis. The dividend yield was $0.63. The ex-dividend date was Thursday the 14th of September 2017.
The company currently has a P/E ratio of 24.04 and the market value is 790.77M.
Stonegate Bank (the Bank), launched on January 13, 2005, 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. Its personal banking services include checking account, money market, savings account, certificate of deposits, individual retirement accounts, consumer loans and residential mortgage loans. Its personal banking additional services include online banking, mobile banking, courier service, wire transfers, official checks, travelers checks, foreign currency, automatic loan payments, safe deposit boxes, night depository, automated teller machines, check imaging, notary service, direct deposit, bank by mail and reorder checks online. It also offers card services, such as credit cards and debit cards. Its wealth management services include asset management, trust services, estate planning, insurance planning and retirement planning for business owners..