BidaskClub upgraded shares of Centerstate Bank (NASDAQ:CSFL) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
Other analysts have also issued research reports about the company. Brean Capital set a $33.00 target price on Centerstate Bank and gave the company a buy rating in a report on Friday, August 24th. Zacks Investment Research lowered Centerstate Bank from a buy rating to a hold rating in a report on Friday, August 10th. Raymond James lowered Centerstate Bank from an outperform rating to a market perform rating and set a $32.00 target price on the stock. in a report on Tuesday, May 29th. They noted that the move was a valuation call. Finally, Sandler O’Neill lowered Centerstate Bank from a buy rating to a hold rating and set a $33.00 target price on the stock. in a report on Wednesday, September 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Centerstate Bank has an average rating of Buy and an average price target of $31.43.
Centerstate Bank stock opened at $28.14 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 20.88 and a beta of 0.38. Centerstate Bank has a fifty-two week low of $25.03 and a fifty-two week high of $32.27.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.10 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.42%.
In other news, Director James H. Bingham sold 2,500 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $30.50, for a total value of $76,250.00. Following the sale, the director now directly owns 120,573 shares in the company, valued at $3,677,476.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.35% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in Centerstate Bank by 6.8% during the first quarter. Wells Fargo & Company MN now owns 717,639 shares of the financial services provider’s stock worth $19,039,000 after buying an additional 45,707 shares during the period. Rhumbline Advisers lifted its position in Centerstate Bank by 9.1% during the first quarter. Rhumbline Advisers now owns 61,947 shares of the financial services provider’s stock worth $1,643,000 after buying an additional 5,174 shares during the period. SG Americas Securities LLC purchased a new position in Centerstate Bank during the first quarter worth about $182,000. Prudential Financial Inc. purchased a new position in Centerstate Bank during the first quarter worth about $221,000. Finally, Swiss National Bank lifted its position in Centerstate Bank by 2.2% during the first quarter. Swiss National Bank now owns 118,196 shares of the financial services provider’s stock worth $3,136,000 after buying an additional 2,600 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.
Centerstate Bank Company Profile
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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