Centerstate Bank Corp (NASDAQ:CSFL) – Analysts at SunTrust Banks increased their FY2019 earnings estimates for Centerstate Bank in a research note issued on Friday, August 16th. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings per share of $2.07 for the year, up from their prior forecast of $2.06. SunTrust Banks also issued estimates for Centerstate Bank’s Q4 2019 earnings at $0.54 EPS.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. BidaskClub raised Centerstate Bank from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.40.
Centerstate Bank (NASDAQ:CSFL) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $196.62 million for the quarter, compared to the consensus estimate of $193.83 million. Centerstate Bank had a return on equity of 9.64% and a net margin of 27.16%.
In other Centerstate Bank news, Director Thomas E. Oakley acquired 3,575 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $23.03 per share, for a total transaction of $82,332.25. Following the acquisition, the director now directly owns 206,631 shares in the company, valued at $4,758,711.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.75% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D L Carlson Investment Group Inc. boosted its holdings in Centerstate Bank by 0.5% during the 1st quarter. D L Carlson Investment Group Inc. now owns 90,480 shares of the financial services provider’s stock valued at $2,154,000 after acquiring an additional 465 shares during the period. Dana Investment Advisors Inc. boosted its holdings in Centerstate Bank by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 91,609 shares of the financial services provider’s stock valued at $2,110,000 after acquiring an additional 648 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Centerstate Bank by 4.4% in the 1st quarter. Alps Advisors Inc. now owns 15,827 shares of the financial services provider’s stock worth $377,000 after buying an additional 672 shares during the period. Comerica Bank lifted its holdings in shares of Centerstate Bank by 0.3% in the 2nd quarter. Comerica Bank now owns 284,630 shares of the financial services provider’s stock worth $6,524,000 after buying an additional 969 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Centerstate Bank by 29.2% in the 2nd quarter. Parallel Advisors LLC now owns 5,252 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,187 shares during the period. Institutional investors own 67.13% of the company’s stock.
Centerstate Bank Company Profile
CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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