Dimensional Fund Advisors LP raised its stake in shares of State Bank Financial Corp (NASDAQ:STBZ) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,503,083 shares of the financial services provider’s stock after acquiring an additional 101,969 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.84% of State Bank Financial worth $50,203,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in State Bank Financial during the 1st quarter valued at $106,000. Stratos Wealth Partners LTD. bought a new stake in State Bank Financial during the 1st quarter valued at $106,000. Principal Financial Group Inc. bought a new stake in State Bank Financial during the 1st quarter valued at $203,000. Sheets Smith Wealth Management bought a new stake in State Bank Financial during the 2nd quarter valued at $223,000. Finally, Meeder Asset Management Inc. boosted its position in State Bank Financial by 57.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,851 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 2,869 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.
State Bank Financial stock opened at $30.17 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.20 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85. State Bank Financial Corp has a 1-year low of $27.56 and a 1-year high of $35.99.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 11th. Stockholders of record on Tuesday, September 4th were given a $0.20 dividend. The ex-dividend date was Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. State Bank Financial’s payout ratio is 54.79%.
Several analysts have issued reports on the company. Zacks Investment Research raised State Bank Financial from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday. BidaskClub cut State Bank Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $39.50 target price on shares of State Bank Financial in a research report on Wednesday, August 8th. Finally, ValuEngine cut State Bank Financial from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $35.58.
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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