Somewhat Favorable News Coverage Somewhat Unlikely to Affect CenterState Banks (CSFL) Stock Price
News coverage about CenterState Banks (NASDAQ:CSFL) has trended somewhat positive recently, according to Accern. The research group identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. CenterState Banks earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 46.2141965065227 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Shares of CenterState Banks (NASDAQ:CSFL) traded down $0.03 during trading hours on Friday, hitting $25.53. 128,994 shares of the company traded hands, compared to its average volume of 252,443. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1,530.00, a P/E ratio of 18.56 and a beta of 0.57. CenterState Banks has a fifty-two week low of $19.43 and a fifty-two week high of $27.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.94%. CenterState Banks’s dividend payout ratio (DPR) is presently 19.05%.
CenterState Banks declared that its board has authorized a stock buyback plan on Thursday, September 7th that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Several equities research analysts recently commented on CSFL shares. Zacks Investment Research downgraded shares of CenterState Banks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. BidaskClub downgraded shares of CenterState Banks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Stephens downgraded shares of CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 price target for the company. in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $28.00 price target on shares of CenterState Banks in a research report on Tuesday, October 3rd. Finally, Brean Capital started coverage on shares of CenterState Banks in a research report on Tuesday, August 29th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.33.
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In related news, Director David G. Salyers acquired 2,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $22.49 per share, for a total transaction of $44,980.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $67,470. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jennifer Idell sold 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $27.00, for a total transaction of $63,477.00. Following the completion of the transaction, the chief financial officer now owns 9,053 shares in the company, valued at approximately $244,431. The disclosure for this sale can be found here. In the last quarter, insiders acquired 11,100 shares of company stock worth $260,040. Company insiders own 3.65% of the company’s stock.
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.
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