Martingale Asset Management L P maintained its position in CenterState Banks, Inc. (NASDAQ:CSFL) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,000 shares of the financial services provider’s stock at the close of the 2nd quarter. Martingale Asset Management L P’s holdings in CenterState Banks were worth $299,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in shares of CenterState Banks during the 1st quarter worth about $104,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CenterState Banks by 248.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,206 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,000 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of CenterState Banks by 2,146.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the financial services provider’s stock worth $141,000 after buying an additional 5,410 shares in the last quarter. Creative Planning raised its position in shares of CenterState Banks by 2.8% during the 2nd quarter. Creative Planning now owns 8,086 shares of the financial services provider’s stock worth $201,000 after buying an additional 218 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of CenterState Banks during the 1st quarter worth about $222,000. Institutional investors own 71.51% of the company’s stock.

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In related news, Director David G. Salyers acquired 2,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $22.49 per share, with a total value of $44,980.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $67,470. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles W. Mcpherson acquired 3,600 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $24.75 per share, for a total transaction of $89,100.00. Following the acquisition, the director now owns 27,144 shares in the company, valued at $671,814. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 11,100 shares of company stock worth $260,040. Insiders own 3.65% of the company’s stock.

A number of research firms have commented on CSFL. ValuEngine downgraded shares of CenterState Banks from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Brean Capital began coverage on shares of CenterState Banks in a research report on Tuesday, August 29th. They set a “hold” rating on the stock. Stephens set a $29.00 price target on shares of CenterState Banks and gave the stock a “buy” rating in a research report on Monday, August 14th. BidaskClub downgraded shares of CenterState Banks from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.50.

Shares of CenterState Banks, Inc. (CSFL) opened at 26.62 on Thursday. The company has a market capitalization of $1.60 billion, a P/E ratio of 22.00 and a beta of 0.60. The company has a 50 day moving average of $24.55 and a 200-day moving average of $24.89. CenterState Banks, Inc. has a 12-month low of $17.09 and a 12-month high of $26.94.

CenterState Banks declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 7th that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

About CenterState Banks

CenterState Bank Corporation, formerly CenterState Banks, Inc, is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.

Institutional Ownership by Quarter for CenterState Banks (NASDAQ:CSFL)

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