Centerstate Bank Corp (NASDAQ:CSFL) Director Charles W. Mcpherson bought 4,000 shares of Centerstate Bank stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average cost of $24.97 per share, with a total value of $99,880.00. Following the completion of the acquisition, the director now directly owns 33,437 shares in the company, valued at approximately $834,921.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
CSFL traded down $0.41 during trading on Friday, reaching $23.02. 370,324 shares of the company traded hands, compared to its average volume of 514,355. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.89. Centerstate Bank Corp has a 12-month low of $22.65 and a 12-month high of $32.27. The firm has a market cap of $2.24 billion, a P/E ratio of 16.86 and a beta of 0.56.
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 analysts’ consensus estimates of $0.49 by $0.02. Centerstate Bank had a net margin of 22.11% and a return on equity of 9.02%. The business had revenue of $128.96 million during the quarter, compared to analyst estimates of $125.03 million. On average, sell-side analysts anticipate that Centerstate Bank Corp will post 2.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, December 13th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new position in shares of Centerstate Bank in the third quarter valued at $114,000. IFP Advisors Inc grew its holdings in shares of Centerstate Bank by 300.0% in the third quarter. IFP Advisors Inc now owns 6,320 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 4,740 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Centerstate Bank in the second quarter valued at $208,000. MML Investors Services LLC purchased a new position in shares of Centerstate Bank in the third quarter valued at $210,000. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Centerstate Bank in the third quarter valued at $210,000. 79.17% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Brean Capital set a $33.00 target price on shares of Centerstate Bank and gave the stock a “buy” rating in a report on Friday, August 24th. Sandler O’Neill lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Wednesday, September 12th. Zacks Investment Research lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating in a report on Friday, August 10th. BidaskClub raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, ValuEngine lowered shares of Centerstate Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.50.
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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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