Centerstate Bank (CSFL) Rating Increased to Hold at ValuEngine

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ValuEngine upgraded shares of Centerstate Bank (NASDAQ:CSFL) from a sell rating to a hold rating in a research report report published on Friday morning.

Other equities analysts have also recently issued research reports about the company. Brean Capital reissued a buy rating on shares of Centerstate Bank in a report on Monday, October 29th. Zacks Investment Research raised Centerstate Bank from a hold rating to a buy rating and set a $27.00 price target for the company in a report on Wednesday, November 21st. Sandler O’Neill raised Centerstate Bank from a hold rating to a buy rating and set a $29.00 price target for the company in a report on Tuesday, November 27th. Finally, Stephens reissued a buy rating and set a $30.00 price target on shares of Centerstate Bank in a report on Monday, November 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $28.50.

NASDAQ:CSFL opened at $25.73 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.89. Centerstate Bank has a fifty-two week low of $19.55 and a fifty-two week high of $32.27.

Centerstate Bank (NASDAQ:CSFL) last released its earnings results on Tuesday, January 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Centerstate Bank had a return on equity of 9.02% and a net margin of 22.11%. As a group, analysts expect that Centerstate Bank will post 2.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, March 14th. This is a boost from Centerstate Bank’s previous quarterly dividend of $0.10.

In other news, Chairman Ernest S. Pinner bought 1,425 shares of the stock in a transaction on Wednesday, December 19th. The stock was acquired at an average price of $21.07 per share, with a total value of $30,024.75. Following the acquisition, the chairman now directly owns 115,117 shares in the company, valued at $2,425,515.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David G. Salyers bought 3,500 shares of the stock in a transaction on Friday, December 14th. The stock was purchased at an average cost of $22.01 per share, with a total value of $77,035.00. Following the acquisition, the director now owns 8,892 shares in the company, valued at $195,712.92. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 13,225 shares of company stock valued at $303,655. Insiders own 2.35% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CSFL. Toronto Dominion Bank acquired a new position in Centerstate Bank in the 4th quarter worth about $33,000. Private Capital Group LLC increased its stake in shares of Centerstate Bank by 194.6% in the fourth quarter. Private Capital Group LLC now owns 1,791 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,183 shares during the period. Trustcore Financial Services LLC acquired a new stake in shares of Centerstate Bank in the fourth quarter valued at about $38,000. Bank of Montreal Can increased its stake in shares of Centerstate Bank by 29.6% in the fourth quarter. Bank of Montreal Can now owns 2,879 shares of the financial services provider’s stock valued at $61,000 after buying an additional 658 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in shares of Centerstate Bank in the third quarter valued at about $114,000. 79.29% of the stock is owned by institutional investors and hedge funds.

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 in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

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Analyst Recommendations for Centerstate Bank (NASDAQ:CSFL)

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