Shares of Centerstate Bank Corp (NASDAQ:CSFL) have been given a consensus recommendation of “Buy” by the eight analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $27.50.
A number of equities research analysts have weighed in on the company. ValuEngine raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. BidaskClub lowered Centerstate Bank from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 10th. Finally, DA Davidson assumed coverage on Centerstate Bank in a research report on Wednesday, October 9th. They set a “neutral” rating and a $25.00 target price for the company.
In related news, Director Thomas E. Oakley purchased 3,575 shares of Centerstate Bank stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $23.03 per share, with a total value of $82,332.25. Following the transaction, the director now owns 206,631 shares in the company, valued at approximately $4,758,711.93. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.75% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hanson McClain Inc. bought a new position in shares of Centerstate Bank in the 2nd quarter worth $57,000. Valeo Financial Advisors LLC bought a new position in shares of Centerstate Bank in the 2nd quarter worth $68,000. Oppenheimer Asset Management Inc. bought a new position in shares of Centerstate Bank in the 2nd quarter worth $79,000. Truvestments Capital LLC bought a new position in shares of Centerstate Bank in the 2nd quarter worth $80,000. Finally, CWM LLC increased its position in Centerstate Bank by 9,765.4% during the 2nd quarter. CWM LLC now owns 5,130 shares of the financial services provider’s stock valued at $118,000 after buying an additional 5,078 shares in the last quarter. 73.72% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CSFL opened at $24.59 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $23.82 and a two-hundred day simple moving average of $23.44. Centerstate Bank has a twelve month low of $19.55 and a twelve month high of $26.83.
Centerstate Bank (NASDAQ:CSFL) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.51. The business had revenue of $196.62 million during the quarter, compared to analyst estimates of $193.83 million. Centerstate Bank had a return on equity of 9.64% and a net margin of 27.16%. As a group, sell-side analysts expect that Centerstate Bank will post 2.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, December 12th.
About Centerstate Bank
CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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