CenterState Banks, Inc. (NASDAQ:CSFL) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $28.33.

A number of equities analysts recently weighed in on CSFL shares. Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, June 8th. ValuEngine cut shares of CenterState Banks from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Stephens set a $29.00 price target on shares of CenterState Banks and gave the stock a “buy” rating in a report on Monday, August 14th. BidaskClub downgraded shares of CenterState Banks from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Brean Capital initiated coverage on shares of CenterState Banks in a research report on Tuesday, August 29th. They set a “hold” rating on the stock.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. grew its position in shares of CenterState Banks by 2.9% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the financial services provider’s stock valued at $100,000 after buying an additional 115 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in CenterState Banks in the first quarter valued at $104,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CenterState Banks by 248.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,206 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 3,000 shares during the last quarter. Globeflex Capital L P purchased a new stake in CenterState Banks in the second quarter valued at $115,000. Finally, BNP Paribas Arbitrage SA lifted its position in CenterState Banks by 2,146.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 5,410 shares during the last quarter. 71.51% of the stock is currently owned by institutional investors and hedge funds.

CenterState Banks (NASDAQ CSFL) traded up 0.22% during trading on Tuesday, hitting $26.94. 274,288 shares of the stock traded hands. The company has a market cap of $1.62 billion, a P/E ratio of 22.26 and a beta of 0.60. CenterState Banks has a 52-week low of $17.47 and a 52-week high of $27.02. The firm has a 50-day moving average price of $24.88 and a 200 day moving average price of $24.93.

CenterState Banks declared that its board has initiated a stock buyback program on Thursday, September 7th that permits the company to buyback 3,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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CenterState Banks Company Profile

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.

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