Analysts Issue Forecasts for Centerstate Bank Corp’s FY2018 Earnings (CSFL)

Centerstate Bank Corp (NASDAQ:CSFL) – Stock analysts at SunTrust Banks upped their FY2018 earnings per share (EPS) estimates for shares of Centerstate Bank in a report released on Wednesday, October 31st. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings of $2.04 per share for the year, up from their previous estimate of $2.00. SunTrust Banks also issued estimates for Centerstate Bank’s Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.57 EPS and FY2020 earnings at $2.38 EPS.

Centerstate Bank (NASDAQ:CSFL) last announced its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. Centerstate Bank had a return on equity of 8.96% and a net margin of 21.38%.

A number of other research analysts also recently issued reports on CSFL. BidaskClub upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a research note on Monday, October 29th. Zacks Investment Research downgraded Centerstate Bank from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Finally, ValuEngine downgraded Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Centerstate Bank presently has a consensus rating of “Hold” and a consensus price target of $32.60.

Shares of NASDAQ:CSFL opened at $24.77 on Friday. The company has a market cap of $2.08 billion, a P/E ratio of 17.82 and a beta of 0.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.24. Centerstate Bank has a 12-month low of $22.75 and a 12-month high of $32.27.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Centerstate Bank by 31.4% in the 2nd quarter. BlackRock Inc. now owns 5,192,052 shares of the financial services provider’s stock worth $154,827,000 after purchasing an additional 1,242,064 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Centerstate Bank by 25.2% in the 2nd quarter. Schroder Investment Management Group now owns 2,378,550 shares of the financial services provider’s stock worth $72,022,000 after purchasing an additional 479,125 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Centerstate Bank by 11.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,323,092 shares of the financial services provider’s stock worth $37,113,000 after purchasing an additional 136,892 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Centerstate Bank by 8.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,134,250 shares of the financial services provider’s stock worth $33,823,000 after purchasing an additional 90,138 shares in the last quarter. Finally, Maltese Capital Management LLC lifted its holdings in Centerstate Bank by 2.8% in the 2nd quarter. Maltese Capital Management LLC now owns 1,064,166 shares of the financial services provider’s stock worth $31,733,000 after purchasing an additional 29,105 shares in the last quarter. 82.48% of the stock is currently owned by institutional investors.

In related news, Director James H. Bingham sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly 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 SEC, which can be accessed through the SEC website. 2.35% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%.

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.

See Also: Technical Analysis

Earnings History and Estimates for Centerstate Bank (NASDAQ:CSFL)

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