CenterState Banks Inc. (NASDAQ:CSFL)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $18.74 and last traded at $18.70, with a volume of 159,629 shares traded. The stock had previously closed at $18.26.
The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ 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%.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, September 13th. CenterState Banks’s dividend payout ratio (DPR) is presently 23.88%.
A number of equities research analysts have issued reports on CSFL shares. Zacks Investment Research raised CenterState Banks from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research report on Thursday, July 28th. Keefe, Bruyette & Woods upped their target price on CenterState Banks from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Finally, Stephens raised CenterState Banks from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Wednesday, September 28th.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of CenterState Banks by 261.1% in the second quarter. BlackRock Inc. now owns 11,767 shares of the financial services provider’s stock valued at $185,000 after buying an additional 8,508 shares during the last quarter. Creative Planning boosted its position in CenterState Banks by 0.6% in the third quarter. Creative Planning now owns 10,541 shares of the financial services provider’s stock valued at $187,000 after buying an additional 58 shares during the period. AXA acquired a new position in CenterState Banks during the second quarter valued at approximately $246,000. Parametric Portfolio Associates LLC boosted its position in CenterState Banks by 13.0% in the second quarter. Parametric Portfolio Associates LLC now owns 20,317 shares of the financial services provider’s stock valued at $320,000 after buying an additional 2,337 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new position in CenterState Banks during the second quarter valued at approximately $321,000. 71.87% of the stock is owned by institutional investors.
The firm has a market cap of $898.41 million, a price-to-earnings ratio of 28.101 and a beta of 0.70. The company has a 50-day moving average of $17.89 and a 200-day moving average of $16.49.
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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