According to Zacks, “CenterState Banks, Inc., formerly CenterState Banks of Florida, Inc., operates as a multi bank holding company, which provides consumer and commercial banking services to individuals, businesses, and industries. The Bank owns CenterState Bank Central Florida National Association, CenterState Bank National Association, CenterState Bank of Florida National Association, and Valrico State Bank (collectively, the Banks). Based in Davenport, Florida, the Company provides a range of consumer and commercial banking services to individuals, businesses, and industries. In addition, the Company make secured and unsecured commercial and real estate loans and issue stand-by letters of credit. Further, the company provides mutual funds, annuities, bonds, fixed income securities, and other products, as well as commercial checking accounts and loans to correspondent banks. “
Separately, Keefe, Bruyette & Woods boosted their price objective on CenterState Banks from $17.00 to $18.00 and gave the stock a market perform rating in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CenterState Banks presently has an average rating of Hold and a consensus target price of $18.50.
Shares of CenterState Banks (NASDAQ:CSFL) opened at 17.55 on Tuesday. The firm has a market capitalization of $842.49 million, a PE ratio of 26.35 and a beta of 0.80. The company’s 50-day moving average price is $17.72 and its 200-day moving average price is $16.20. CenterState Banks has a 12-month low of $12.57 and a 12-month high of $18.27.
CenterState Banks (NASDAQ:CSFL) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. CenterState Banks had a return on equity of 7.61% and a net margin of 14.11%. Analysts anticipate that CenterState Banks will post $1.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid 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 (DPR) is currently 23.88%.
Large investors have recently modified their holdings of the stock. Fisher Asset Management LLC boosted its stake in shares of CenterState Banks by 311.7% in the first quarter. Fisher Asset Management LLC now owns 142,037 shares of the financial services provider’s stock valued at $2,220,000 after buying an additional 107,539 shares during the period. Clover Partners L.P. boosted its stake in shares of CenterState Banks by 434.2% in the first quarter. Clover Partners L.P. now owns 200,334 shares of the financial services provider’s stock valued at $2,983,000 after buying an additional 162,834 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of CenterState Banks by 35.4% in the first quarter. TIAA CREF Investment Management LLC now owns 296,212 shares of the financial services provider’s stock valued at $4,411,000 after buying an additional 77,419 shares during the period. Prudential Financial Inc. boosted its stake in shares of CenterState Banks by 0.4% in the first quarter. Prudential Financial Inc. now owns 25,975 shares of the financial services provider’s stock valued at $387,000 after buying an additional 100 shares during the period. Finally, Rehmann Capital Advisory Group bought a new stake in shares of CenterState Banks during the first quarter valued at about $234,000. 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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