Separately, Zacks Investment Research raised Centerstate Bank from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.83.
CSFL stock traded up $0.48 during mid-day trading on Wednesday, reaching $23.48. 444,637 shares of the company’s stock were exchanged, compared to its average volume of 682,822. The stock’s 50 day moving average is $23.53 and its 200 day moving average is $23.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. Centerstate Bank has a 12-month low of $19.55 and a 12-month high of $26.84.
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 consensus estimate of $0.51. Centerstate Bank had a return on equity of 9.64% and a net margin of 27.16%. The business had revenue of $196.62 million for the quarter, compared to the consensus estimate of $193.83 million. Analysts expect that Centerstate Bank will post 2.05 EPS for the current fiscal year.
In other news, Director Thomas E. Oakley acquired 3,575 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $23.03 per share, with a total value of $82,332.25. Following the completion of the purchase, the director now owns 206,631 shares of the company’s stock, valued at approximately $4,758,711.93. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.75% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bremer Bank National Association purchased a new stake in Centerstate Bank during the 1st quarter worth about $34,000. Hanson McClain Inc. purchased a new stake in shares of Centerstate Bank in the 2nd quarter valued at about $57,000. Valeo Financial Advisors LLC purchased a new stake in shares of Centerstate Bank in the 2nd quarter valued at about $68,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Centerstate Bank in the 2nd quarter valued at about $79,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Centerstate Bank in the 2nd quarter valued at about $80,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.
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. 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.
Featured Story: What moving averages are used to define a golden cross?
Receive News & Ratings for Centerstate Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centerstate Bank and related companies with MarketBeat.com's FREE daily email newsletter.