Voya Investment Management LLC Reduces Stake in Centerstate Bank Corp (CSFL)

Voya Investment Management LLC lowered its stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 693,383 shares of the financial services provider’s stock after selling 110,740 shares during the period. Voya Investment Management LLC’s holdings in Centerstate Bank were worth $20,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of Centerstate Bank by 19.0% during the second quarter. Legal & General Group Plc now owns 13,043 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 2,079 shares during the period. Brinker Capital Inc. raised its holdings in shares of Centerstate Bank by 10.0% during the first quarter. Brinker Capital Inc. now owns 25,059 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 2,280 shares during the period. American International Group Inc. raised its holdings in shares of Centerstate Bank by 6.4% during the first quarter. American International Group Inc. now owns 38,676 shares of the financial services provider’s stock valued at $1,026,000 after purchasing an additional 2,337 shares during the period. Xact Kapitalforvaltning AB raised its holdings in shares of Centerstate Bank by 30.1% during the first quarter. Xact Kapitalforvaltning AB now owns 10,381 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 2,400 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Centerstate Bank by 2.2% during the first quarter. Swiss National Bank now owns 118,196 shares of the financial services provider’s stock valued at $3,136,000 after purchasing an additional 2,600 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

In related news, Director James H. Bingham sold 2,500 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $30.50, for a total value of $76,250.00. Following the sale, the director now owns 120,573 shares in the company, valued at approximately $3,677,476.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.35% of the company’s stock.

CSFL opened at $29.48 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. Centerstate Bank Corp has a fifty-two week low of $25.03 and a fifty-two week high of $32.27. The stock has a market capitalization of $2.48 billion, a P/E ratio of 21.19 and a beta of 0.38.

Centerstate Bank (NASDAQ:CSFL) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Centerstate Bank had a net margin of 21.38% and a return on equity of 8.96%. The company had revenue of $123.12 million for the quarter, compared to analyst estimates of $118.87 million. equities analysts forecast that Centerstate Bank Corp will post 2.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%.

Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Centerstate Bank from a “hold” rating to a “sell” rating in a report on Saturday. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a report on Tuesday, July 10th. Zacks Investment Research lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Sandler O’Neill lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a report on Wednesday, September 12th. Finally, Raymond James lowered shares of Centerstate Bank from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Tuesday, May 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Centerstate Bank has a consensus rating of “Hold” and an average price target of $31.43.

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 in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

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Institutional Ownership by Quarter for Centerstate Bank (NASDAQ:CSFL)

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