CenterState Banks, Inc. (NASDAQ:CSFL) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday, June 30th.
Separately, Zacks Investment Research downgraded CenterState Banks from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd.
CenterState Banks (NASDAQ:CSFL) traded down 0.80% on Friday, hitting $24.83. The stock had a trading volume of 296,543 shares. The company has a 50-day moving average price of $24.92 and a 200-day moving average price of $24.98. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.52 and a beta of 0.61. CenterState Banks has a 52 week low of $16.32 and a 52 week high of $26.94.
In related news, Director Charles W. Mcpherson purchased 4,000 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were bought at an average price of $25.41 per share, with a total value of $101,640.00. Following the acquisition, the director now owns 23,544 shares of the company’s stock, valued at approximately $598,253.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.65% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of CenterState Banks during the first quarter worth about $104,000. Creative Planning raised its position in CenterState Banks by 2.8% in the second quarter. Creative Planning now owns 8,086 shares of the financial services provider’s stock worth $201,000 after buying an additional 218 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of CenterState Banks during the fourth quarter valued at about $209,000. Driehaus Capital Management LLC bought a new position in shares of CenterState Banks during the first quarter valued at about $222,000. Finally, Ronald Blue & Co. LLC raised its position in shares of CenterState Banks by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 9,008 shares of the financial services provider’s stock valued at $223,000 after buying an additional 28 shares during the period. 72.31% of the stock is currently owned by institutional investors and hedge funds.
CenterState Banks Company Profile
CenterState Banks, Inc is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.
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