Centerstate Bank Corp (NASDAQ:CSFL) insider Ernest S. Pinner sold 38,307 shares of Centerstate Bank stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $31.90, for a total transaction of $1,221,993.30. Following the transaction, the insider now directly owns 114,117 shares of the company’s stock, valued at $3,640,332.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Centerstate Bank stock opened at $31.48 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 22.80 and a beta of 0.54. Centerstate Bank Corp has a 52-week low of $25.03 and a 52-week high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last issued its earnings results on Tuesday, April 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $118.06 million during the quarter, compared to analysts’ expectations of $113.07 million. Centerstate Bank had a net margin of 19.81% and a return on equity of 8.36%. research analysts predict that Centerstate Bank Corp will post 1.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.10 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.40 annualized dividend and a yield of 1.27%.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Centerstate Bank by 1.3% in the fourth quarter. BlackRock Inc. now owns 3,678,064 shares of the financial services provider’s stock worth $94,637,000 after buying an additional 46,353 shares during the last quarter. Millennium Management LLC lifted its holdings in Centerstate Bank by 103.2% during the fourth quarter. Millennium Management LLC now owns 641,090 shares of the financial services provider’s stock valued at $16,495,000 after purchasing an additional 325,660 shares in the last quarter. Royce & Associates LP lifted its holdings in Centerstate Bank by 24.4% during the fourth quarter. Royce & Associates LP now owns 538,441 shares of the financial services provider’s stock valued at $13,854,000 after purchasing an additional 105,500 shares in the last quarter. Financial Advisory Group lifted its holdings in Centerstate Bank by 305.8% during the fourth quarter. Financial Advisory Group now owns 15,916 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 11,994 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Centerstate Bank by 74.5% during the fourth quarter. US Bancorp DE now owns 4,694 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 2,004 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on CSFL shares. BidaskClub cut shares of Centerstate Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 26th. SunTrust Banks started coverage on shares of Centerstate Bank in a research report on Tuesday, March 6th. They set a “buy” rating and a $32.00 price target for the company. Brean Capital raised shares of Centerstate Bank to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, February 1st. Raymond James lifted their price target on shares of Centerstate Bank from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 26th. Finally, Keefe, Bruyette & Woods raised shares of Centerstate Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.00.
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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