BB&T Securities LLC Invests $213,000 in Centerstate Bank Corp (CSFL)

BB&T Securities LLC bought a new stake in Centerstate Bank Corp (NASDAQ:CSFL) during the 2nd quarter, HoldingsChannel reports. The fund bought 7,162 shares of the financial services provider’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Maltese Capital Management LLC raised its stake in shares of Centerstate Bank by 2.8% in the second quarter. Maltese Capital Management LLC now owns 1,064,166 shares of the financial services provider’s stock valued at $31,733,000 after acquiring an additional 29,105 shares during the period. Swiss National Bank raised its stake in shares of Centerstate Bank by 4.7% in the second quarter. Swiss National Bank now owns 123,696 shares of the financial services provider’s stock valued at $3,689,000 after acquiring an additional 5,500 shares during the period. Wesbanco Bank Inc. purchased a new stake in shares of Centerstate Bank in the second quarter valued at $1,027,000. UBS Group AG raised its stake in shares of Centerstate Bank by 1,070.7% in the first quarter. UBS Group AG now owns 18,052 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 16,510 shares during the period. Finally, D L Carlson Investment Group Inc. purchased a new stake in shares of Centerstate Bank in the second quarter valued at $1,751,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

CSFL has been the topic of several recent analyst reports. BidaskClub raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Brean Capital set a $33.00 target price on shares of Centerstate Bank and gave the company a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised shares of Centerstate Bank from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Friday, July 27th. Finally, Sandler O’Neill downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research note on Wednesday, September 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Centerstate Bank presently has an average rating of “Buy” and an average target price of $31.43.

In related news, Director James H. Bingham sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $30.50, for a total value of $76,250.00. Following the transaction, the director now owns 120,573 shares of the company’s stock, valued at approximately $3,677,476.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.35% of the company’s stock.

CSFL stock opened at $28.14 on Thursday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 20.86 and a beta of 0.38. Centerstate Bank Corp has a 12 month low of $25.03 and a 12 month high of $32.27. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.

Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The company had revenue of $123.12 million for the quarter, compared to the consensus estimate of $118.87 million. Centerstate Bank had a net margin of 21.38% and a return on equity of 8.96%. equities research analysts expect that Centerstate Bank Corp will post 2.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, September 13th.

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.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Centerstate Bank (NASDAQ:CSFL)

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