Lakeview Capital Partners LLC reduced its stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 30.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,957 shares of the financial services provider’s stock after selling 7,679 shares during the period. Lakeview Capital Partners LLC’s holdings in Centerstate Bank were worth $431,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Centerstate Bank by 21.4% during the 2nd quarter. Vanguard Group Inc. now owns 10,961,558 shares of the financial services provider’s stock worth $252,445,000 after purchasing an additional 1,930,103 shares during the last quarter. BlackRock Inc. increased its holdings in Centerstate Bank by 37.2% during the 2nd quarter. BlackRock Inc. now owns 9,075,138 shares of the financial services provider’s stock worth $209,001,000 after purchasing an additional 2,458,709 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Centerstate Bank by 141.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,588,431 shares of the financial services provider’s stock worth $151,732,000 after purchasing an additional 3,865,093 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Centerstate Bank by 6.7% during the 2nd quarter. Macquarie Group Ltd. now owns 2,509,931 shares of the financial services provider’s stock worth $57,804,000 after purchasing an additional 158,504 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Centerstate Bank by 18.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,767,994 shares of the financial services provider’s stock worth $40,717,000 after purchasing an additional 269,074 shares during the last quarter. Institutional investors and hedge funds own 73.93% of the company’s stock.
In other news, Director James H. Bingham sold 3,900 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $26.55, for a total value of $103,545.00. Following the sale, the director now owns 120,467 shares of the company’s stock, valued at approximately $3,198,398.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.75% of the stock is currently owned by insiders.
Centerstate Bank (NASDAQ:CSFL) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. Centerstate Bank had a return on equity of 9.63% and a net margin of 26.20%. The firm had revenue of $203.44 million for the quarter, compared to the consensus estimate of $195.30 million. As a group, analysts forecast that Centerstate Bank Corp will post 2.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, December 12th.
CSFL has been the topic of several analyst reports. BidaskClub upgraded Centerstate Bank from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Zacks Investment Research downgraded Centerstate Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, October 31st. Raymond James lifted their price objective on Centerstate Bank from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. ValuEngine upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, DA Davidson initiated coverage on Centerstate Bank in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.83.
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. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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