Tributary Capital Management LLC bought a new stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 14,500 shares of the financial services provider’s stock, valued at approximately $407,000.
A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in Centerstate Bank by 31.4% during the 2nd quarter. BlackRock Inc. now owns 5,192,052 shares of the financial services provider’s stock valued at $154,827,000 after buying an additional 1,242,064 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Centerstate Bank by 25.2% in the second quarter. Schroder Investment Management Group now owns 2,378,550 shares of the financial services provider’s stock valued at $72,022,000 after purchasing an additional 479,125 shares during the period. Millennium Management LLC increased its holdings in shares of Centerstate Bank by 140.3% in the first quarter. Millennium Management LLC now owns 1,540,764 shares of the financial services provider’s stock valued at $40,876,000 after purchasing an additional 899,674 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Centerstate Bank by 11.1% in the second quarter. Victory Capital Management Inc. now owns 1,186,200 shares of the financial services provider’s stock valued at $35,373,000 after purchasing an additional 118,246 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of Centerstate Bank by 8.6% in the second quarter. Macquarie Group Ltd. now owns 1,134,250 shares of the financial services provider’s stock valued at $33,823,000 after purchasing an additional 90,138 shares during the period. 82.47% of the stock is currently owned by institutional investors.
In other news, Director James H. Bingham sold 2,500 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was 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 $3,677,476.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.35% of the stock is owned by corporate insiders.
Shares of CSFL stock opened at $25.02 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.11 billion, a PE ratio of 18.00 and a beta of 0.38. Centerstate Bank Corp has a fifty-two week low of $24.96 and a fifty-two week high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Centerstate Bank had a return on equity of 8.96% and a net margin of 21.38%. The firm had revenue of $123.12 million for the quarter, compared to the consensus estimate of $118.87 million. Research analysts anticipate that Centerstate Bank Corp will post 2.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.60%.
CSFL has been the topic of a number of research reports. BidaskClub lowered Centerstate Bank from a “hold” rating to a “sell” rating in a report on Saturday, September 15th. Brean Capital reissued a “buy” rating on shares of Centerstate Bank in a report on Sunday, September 30th. Sandler O’Neill lowered Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a report on Wednesday, September 12th. Finally, Zacks Investment Research raised Centerstate Bank from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.43.
About Centerstate Bank
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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