CenterState Banks Inc. (CSFL) Lifted to “Overweight” at Stephens
CenterState Banks Inc. (NASDAQ:CSFL) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded CenterState Banks from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Monday, June 27th. Keefe, Bruyette & Woods boosted their price objective on CenterState Banks from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.88.
CenterState Banks (NASDAQ:CSFL) opened at 17.58 on Wednesday. The stock’s 50 day moving average is $17.67 and its 200 day moving average is $16.17. CenterState Banks has a 12-month low of $12.57 and a 12-month high of $18.27. The company has a market cap of $843.93 million, a P/E ratio of 26.40 and a beta of 0.80.
CenterState Banks (NASDAQ:CSFL) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. CenterState Banks had a return on equity of 7.61% and a net margin of 14.11%. On average, equities analysts forecast that CenterState Banks will post $1.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Tuesday, September 13th. CenterState Banks’s dividend payout ratio is 23.88%.
Several large investors have recently modified their holdings of CSFL. Huntington Asset Advisors Inc. purchased a new stake in shares of CenterState Banks during the first quarter valued at $161,000. BlackRock Inc. boosted its stake in shares of CenterState Banks by 261.1% in the second quarter. BlackRock Inc. now owns 11,767 shares of the financial services provider’s stock valued at $185,000 after buying an additional 8,508 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of CenterState Banks during the first quarter valued at $234,000. AXA purchased a new stake in shares of CenterState Banks during the second quarter valued at $246,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of CenterState Banks during the first quarter valued at $268,000. Institutional investors and hedge funds own 71.94% of the company’s stock.
About CenterState Banks
CenterState Banks, Inc (CSFL) is a bank holding company, which owns CenterState Bank of Florida, N.A. (CSB or the Bank) and a non-bank subsidiary, R4ALL, Inc (R4ALL). The Company’s basic services include demand interest-bearing and noninterest-bearing accounts, money market deposit accounts, time deposits, safe deposit services, cash management, direct deposits, notary services, money orders, night depository, travelers’ checks, cashier’s checks, domestic collections, savings bonds, bank drafts, automated teller services, drive-in tellers, and banking by mail and by Internet.
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