Carlton Hofferkamp & Jenks Wealth Management LLC Sells 23,191 Shares of Stellarone Corp $STEL

Carlton Hofferkamp & Jenks Wealth Management LLC decreased its holdings in shares of Stellarone Corp (NYSE:STEL) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,456 shares of the financial services provider’s stock after selling 23,191 shares during the quarter. Stellarone comprises approximately 1.3% of Carlton Hofferkamp & Jenks Wealth Management LLC’s portfolio, making the stock its 22nd biggest holding. Carlton Hofferkamp & Jenks Wealth Management LLC owned approximately 0.23% of Stellarone worth $3,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STEL. Millennium Management LLC raised its holdings in Stellarone by 34.6% during the 3rd quarter. Millennium Management LLC now owns 1,237,830 shares of the financial services provider’s stock valued at $37,556,000 after acquiring an additional 318,011 shares during the period. North Reef Capital Management LP raised its holdings in Stellarone by 18.8% during the 3rd quarter. North Reef Capital Management LP now owns 1,829,937 shares of the financial services provider’s stock valued at $55,520,000 after acquiring an additional 289,937 shares during the period. Citadel Advisors LLC grew its position in shares of Stellarone by 288.7% during the 3rd quarter. Citadel Advisors LLC now owns 181,271 shares of the financial services provider’s stock valued at $5,500,000 after purchasing an additional 134,637 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Stellarone during the 3rd quarter valued at $3,055,000. Finally, Jane Street Group LLC grew its position in shares of Stellarone by 105.0% during the 1st quarter. Jane Street Group LLC now owns 195,376 shares of the financial services provider’s stock valued at $5,404,000 after purchasing an additional 100,067 shares in the last quarter. Institutional investors own 54.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STEL. Weiss Ratings began coverage on shares of Stellarone in a report on Tuesday. They set a “buy (b-)” rating for the company. Keefe, Bruyette & Woods upgraded shares of Stellarone from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $33.00 to $44.00 in a report on Tuesday, February 3rd. Finally, Raymond James Financial lowered shares of Stellarone from a “moderate buy” rating to a “hold” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Stellarone Price Performance

STEL stock opened at $37.74 on Friday. Stellarone Corp has a 1 year low of $24.49 and a 1 year high of $40.21. The company has a market cap of $1.92 billion, a P/E ratio of 19.06 and a beta of 0.75. The firm has a 50-day moving average of $37.31 and a 200 day moving average of $33.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.85 and a quick ratio of 0.85.

Stellarone (NYSE:STEL) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Stellarone had a net margin of 17.25% and a return on equity of 6.30%. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Stellarone Corp will post 1.83 EPS for the current year.

Stellarone Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. Stellarone’s dividend payout ratio (DPR) is currently 30.30%.

Stellarone Profile

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.