CenterState Banks, Inc. (CSFL) Holdings Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in CenterState Banks, Inc. (NASDAQ:CSFL) by 13.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,369 shares of the financial services provider’s stock after purchasing an additional 4,860 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of CenterState Banks worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CSFL. Parametric Portfolio Associates LLC grew its stake in CenterState Banks by 8.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 36,791 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 2,715 shares during the period. Teachers Advisors LLC lifted its position in shares of CenterState Banks by 6.2% during the 1st quarter. Teachers Advisors LLC now owns 160,590 shares of the financial services provider’s stock valued at $4,159,000 after buying an additional 9,421 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of CenterState Banks by 8.2% during the 1st quarter. California Public Employees Retirement System now owns 79,600 shares of the financial services provider’s stock valued at $2,062,000 after buying an additional 6,000 shares during the last quarter. Legal & General Group Plc lifted its position in shares of CenterState Banks by 1.6% during the 1st quarter. Legal & General Group Plc now owns 11,971 shares of the financial services provider’s stock valued at $309,000 after buying an additional 192 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of CenterState Banks by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 2,074,300 shares of the financial services provider’s stock valued at $53,725,000 after buying an additional 176,169 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

CenterState Banks, Inc. (CSFL) opened at $25.87 on Tuesday. CenterState Banks, Inc. has a 1 year low of $20.06 and a 1 year high of $27.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1,534.54, a price-to-earnings ratio of 18.37 and a beta of 0.57.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.93%. CenterState Banks’s dividend payout ratio (DPR) is 18.90%.

CenterState Banks announced that its Board of Directors has initiated a share repurchase program on Thursday, September 7th that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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In related news, Director David G. Salyers acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of $22.49 per share, with a total value of $44,980.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $67,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jennifer Idell sold 2,351 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.00, for a total value of $63,477.00. Following the sale, the chief financial officer now directly owns 9,053 shares in the company, valued at approximately $244,431. The disclosure for this sale can be found here. Insiders have purchased a total of 7,500 shares of company stock worth $170,940 in the last three months. 3.65% of the stock is currently owned by insiders.

A number of brokerages have recently commented on CSFL. Stephens cut CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 price target on the stock. in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $29.00 price target on shares of CenterState Banks in a research report on Thursday, October 26th. Zacks Investment Research cut CenterState Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Brean Capital reaffirmed a “hold” rating on shares of CenterState Banks in a research report on Monday, October 30th. Finally, BidaskClub raised CenterState Banks from a “sell” rating to a “hold” rating in a research report on Sunday, August 6th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $28.33.

CenterState Banks Company Profile

CenterState Bank Corporation, formerly 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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Institutional Ownership by Quarter for CenterState Banks (NASDAQ:CSFL)

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