Moody Aldrich Partners LLC lifted its stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 250,201 shares of the financial services provider’s stock after purchasing an additional 39,785 shares during the period. Centerstate Bank comprises about 2.0% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 6th biggest holding. Moody Aldrich Partners LLC owned about 0.30% of Centerstate Bank worth $7,018,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CSFL. BlackRock Inc. raised its stake in Centerstate Bank by 31.4% during the second quarter. BlackRock Inc. now owns 5,192,052 shares of the financial services provider’s stock worth $154,827,000 after acquiring an additional 1,242,064 shares during the period. Schroder Investment Management Group raised its stake in Centerstate Bank by 25.2% during the second quarter. Schroder Investment Management Group now owns 2,378,550 shares of the financial services provider’s stock worth $72,022,000 after acquiring an additional 479,125 shares during the period. Victory Capital Management Inc. raised its stake in Centerstate Bank by 11.1% during the second quarter. Victory Capital Management Inc. now owns 1,186,200 shares of the financial services provider’s stock worth $35,373,000 after acquiring an additional 118,246 shares during the period. Macquarie Group Ltd. raised its stake in Centerstate Bank by 8.6% during the second quarter. Macquarie Group Ltd. now owns 1,134,250 shares of the financial services provider’s stock worth $33,823,000 after acquiring an additional 90,138 shares during the period. Finally, Maltese Capital Management LLC raised its stake in Centerstate Bank by 2.8% during the second quarter. Maltese Capital Management LLC now owns 1,064,166 shares of the financial services provider’s stock worth $31,733,000 after acquiring an additional 29,105 shares during the period. 82.48% of the stock is currently owned by institutional investors and hedge funds.
In other Centerstate Bank news, Director James H. Bingham sold 2,500 shares of the firm’s stock in a transaction that occurred on 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 $3,677,476.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.35% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a research note on Sunday, September 30th. BidaskClub lowered shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Finally, ValuEngine lowered shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.60.
CSFL opened at $24.58 on Friday. The stock has a market cap of $2.04 billion, a P/E ratio of 17.41 and a beta of 0.38. Centerstate Bank Corp has a fifty-two week low of $22.75 and a fifty-two week high of $32.27. 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 (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. Centerstate Bank had a net margin of 21.38% and a return on equity of 8.96%. Sell-side analysts predict that Centerstate Bank Corp will post 2.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.63%.
Centerstate Bank 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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