BidaskClub lowered shares of CenterState Banks, Inc. (NASDAQ:CSFL) from a hold rating to a sell rating in a research report report published on Saturday morning.
Separately, Zacks Investment Research upgraded shares of CenterState Banks from a hold rating to a buy rating and set a $27.00 price target for the company in a research note on Thursday, June 8th.
Shares of CenterState Banks (NASDAQ CSFL) traded down 0.66% on Friday, hitting $24.21. 789,875 shares of the stock traded hands. The firm has a market cap of $1.34 billion, a P/E ratio of 18.86 and a beta of 0.58. CenterState Banks has a 12-month low of $14.71 and a 12-month high of $26.94. The firm’s 50-day moving average is $24.83 and its 200 day moving average is $25.02.
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The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%. CenterState Banks’s dividend payout ratio (DPR) is presently 18.60%.
In related news, Director Charles W. Mcpherson purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was acquired at an average price of $25.41 per share, for a total transaction of $101,640.00. Following the completion of the purchase, the director now owns 23,544 shares in the company, valued at $598,253.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.65% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in CSFL. Ameritas Investment Partners Inc. acquired a new position in CenterState Banks during the first quarter worth approximately $104,000. Raymond James Financial Services Advisors Inc. acquired a new position in CenterState Banks during the fourth quarter worth approximately $209,000. Driehaus Capital Management LLC acquired a new position in CenterState Banks during the first quarter worth approximately $222,000. Tudor Investment Corp ET AL acquired a new position in CenterState Banks during the first quarter worth approximately $261,000. Finally, Legal & General Group Plc increased its position in CenterState Banks by 1.6% in the first quarter. Legal & General Group Plc now owns 11,971 shares of the financial services provider’s stock worth $309,000 after buying an additional 192 shares in the last quarter. 72.26% of the stock is owned by hedge funds and other institutional investors.
About CenterState Banks
CenterState Banks, Inc is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.
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