Centerstate Bank Corp (NASDAQ:CSFL) Director David G. Salyers acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was acquired at an average price of $22.91 per share, for a total transaction of $45,820.00. Following the completion of the acquisition, the director now directly owns 7,392 shares of the company’s stock, valued at approximately $169,350.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
NASDAQ:CSFL traded down $0.41 during trading hours on Friday, reaching $23.02. 373,146 shares of the stock were exchanged, compared to its average volume of 656,053. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. Centerstate Bank Corp has a twelve month low of $22.65 and a twelve month high of $32.27. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 16.87 and a beta of 0.56.
Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Centerstate Bank had a return on equity of 9.02% and a net margin of 22.11%. The company had revenue of $128.96 million for the quarter, compared to analysts’ expectations of $125.03 million. On average, sell-side analysts expect that Centerstate Bank Corp will post 2.06 EPS 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 13th.
A number of large investors have recently added to or reduced their stakes in CSFL. Bank of Montreal Can lifted its stake in Centerstate Bank by 7,184.5% during the second quarter. Bank of Montreal Can now owns 106,208 shares of the financial services provider’s stock worth $3,167,000 after purchasing an additional 104,750 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Centerstate Bank during the second quarter worth $336,000. Aperio Group LLC increased its position in shares of Centerstate Bank by 34.2% during the second quarter. Aperio Group LLC now owns 10,976 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 2,798 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Centerstate Bank during the second quarter worth $208,000. Finally, Comerica Bank purchased a new stake in shares of Centerstate Bank during the second quarter worth $3,174,000. Institutional investors own 79.17% of the company’s stock.
CSFL has been the topic of a number of recent analyst reports. BidaskClub cut Centerstate Bank from a “hold” rating to a “sell” rating in a report on Saturday, September 15th. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a report on Sunday, September 30th. Stephens reiterated a “buy” rating and issued a $30.00 price objective on shares of Centerstate Bank in a report on Monday, November 26th. Zacks Investment Research cut Centerstate Bank from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Finally, Sandler O’Neill upgraded Centerstate Bank from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.50.
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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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