CenterState Banks Inc. (CSFL) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS
CenterState Banks Inc. (NASDAQ:CSFL) released its quarterly earnings results on Monday. The financial services provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. CenterState Banks had a return on equity of 7.61% and a net margin of 14.11%.
CenterState Banks (NASDAQ:CSFL) opened at 17.77 on Tuesday. The company has a market cap of $853.05 million, a price-to-earnings ratio of 26.68 and a beta of 0.70. CenterState Banks has a 1-year low of $12.57 and a 1-year high of $18.40. The firm’s 50-day moving average price is $17.87 and its 200-day moving average price is $16.46.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.90%. CenterState Banks’s dividend payout ratio (DPR) is presently 23.88%.
Several analysts recently weighed in on CSFL shares. Stephens raised CenterState Banks from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Wednesday, September 28th. Zacks Investment Research cut CenterState Banks from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Keefe, Bruyette & Woods lifted their price target on CenterState Banks from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th.
Institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management AG raised its position in CenterState Banks by 26.6% in the second quarter. Allianz Asset Management AG now owns 73,528 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 15,460 shares in the last quarter. Maltese Capital Management LLC raised its position in CenterState Banks by 8.2% in the second quarter. Maltese Capital Management LLC now owns 562,600 shares of the financial services provider’s stock valued at $8,861,000 after buying an additional 42,600 shares in the last quarter. APG Asset Management N.V. acquired a new position in CenterState Banks during the second quarter valued at about $5,312,000. Teachers Advisors Inc. raised its position in CenterState Banks by 15.3% in the second quarter. Teachers Advisors Inc. now owns 114,061 shares of the financial services provider’s stock valued at $1,796,000 after buying an additional 15,147 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in CenterState Banks by 2.3% in the second quarter. TIAA CREF Investment Management LLC now owns 303,033 shares of the financial services provider’s stock valued at $4,773,000 after buying an additional 6,821 shares in the last quarter. 71.87% of the stock is owned by institutional investors.
CenterState Banks Company Profile
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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