5. State Bank Financial Corp.
Shares of State Bank Financial (STBZ) of Atlanta closed at $15.11 Friday, returning 4% in 2011.
The company's third-quarter efficiency ratio was 37.84, according to SNL Financial.State Bank Financial on Oct. 21 purchased the failed Community Capital Bank of Jonesboro, Ga., from the FDIC, picking up two branches and roughly $181 million in assets, with the FDIC covering 80% of losses on $141.3 million of the acquired assets. That deal followed the purchase of the failed Piedmont Community Bank of Gray, Ga., which had $201.7 million in assets and two branches, with the FDIC agreeing to cover 80% of losses on $163.2 million of the acquired assets. State Bank Financial earned $17.1 million, or 53 cents a share, in the third quarter, increasing from $10.8 million, or 34 cents, a year earlier, with the increase mainly reflecting growth through previous government-assisted acquisitions. The third-quarter ROA was 2.52%, according to SNL. FIG Partners analyst Christopher Marinac rates State Bank Financial "Outperform," with an $18.50 price target, saying after the two October acquisitions that the company's "build-up of both Cash and Retained Capital remains tremendous, which enables tangible book value to grow significantly
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