The Forest Hill Capital LLC Boosts Position in Stonegate Bank (SGBK), Report finds

The Forest Hill Capital LLC Boosts Position in Stonegate Bank (SGBK), Report finds

Other hedge funds also recently bought and sold shares of the company. Context BH Capital Management LP boosted its position in shares of Stonegate Bank by 212.4% in the third quarter. Context BH Capital Management LP now owns 84,052 shares of the company’s stock worth $2,837,000 after buying an additional 57,146 shares during the last quarter. Seidman Lawrence B boosted its position in shares of Stonegate Bank by 3.0% in the third quarter. Seidman Lawrence B now owns 601,017 shares of the company’s stock worth $20,318,000 after buying an additional 17,353 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Stonegate Bank by 43.8% in the third quarter. First Trust Advisors LP now owns 18,200 shares of the company’s stock worth $614,000 after buying an additional 5,542 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Stonegate Bank by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,534 shares of the company’s stock worth $154,000 after buying an additional 36 shares during the last quarter. Finally, Banc Funds Co. LLC boosted its position in shares of Stonegate Bank by 20.4% in the third quarter. Banc Funds Co. LLC now owns 582,346 shares of the company’s stock worth $19,654,000 after buying an additional 98,850 shares during the last quarter. Hedge funds and other institutional investors own 61.46% of the company’s stock.

Forest Hill Capital LLC increased its stake in shares of Stonegate Bank (NASDAQ:SGBK) by 22.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,548 shares of the company’s stock after buying an additional 23,641 shares during the period. Stonegate Bank accounts for 1.7% of Forest Hill Capital LLC’s holdings, making the stock its 29th largest position. Forest Hill Capital LLC owned approximately 0.91% of Stonegate Bank worth $5,364,000 as of its most recent filing with the SEC.

Shares of Stonegate Bank (NASDAQ:SGBK) traded up 0.91% during trading on Thursday, reaching $45.56. 28,570 shares of the company were exchanged. Stonegate Bank has a 1-year low of $28.28 and a 1-year high of $46.24. The company has a market capitalization of $646.45 million, a price-to-earnings ratio of 22.02 and a beta of 0.45. The stock’s 50 day moving average is $42.80 and its 200 day moving average is $36.89.

A number of brokerages recently commented on SGBK. Raymond James Financial, Inc. began coverage on shares of Stonegate Bank in a research report on Wednesday, November 30th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, February 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $41.33.

Stonegate Bank Company Profile

Stonegate Bank (the Bank) 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.

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