CenterState Banks, Inc. (NASDAQ:CSFL) will be releasing its Q2 2017 earnings data after the market closes on Monday, October 16th. Analysts expect CenterState Banks to post earnings of $0.32 per share for the quarter.
CenterState Banks, Inc. (CSFL) opened at 26.96 on Monday. The company has a 50 day moving average price of $25.08 and a 200 day moving average price of $24.96. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 22.28 and a beta of 0.60. CenterState Banks, Inc. has a 52 week low of $17.72 and a 52 week high of $27.06.
CenterState Banks announced that its Board of Directors has approved a share buyback plan on Thursday, September 7th that permits the company to repurchase 3,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of CenterState Banks from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine downgraded shares of CenterState Banks from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Stephens set a $29.00 price objective on shares of CenterState Banks and gave the company a “buy” rating in a research report on Monday, August 14th. Brean Capital assumed coverage on shares of CenterState Banks in a research report on Tuesday, August 29th. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.33.
In other news, Director Charles W. Mcpherson acquired 3,600 shares of CenterState Banks stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $24.75 per share, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 27,144 shares in the company, valued at $671,814. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David G. Salyers acquired 2,000 shares of CenterState Banks stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average price of $22.49 per share, with a total value of $44,980.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $67,470. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 11,100 shares of company stock valued at $260,040. 3.65% of the stock is owned by insiders.
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CenterState Banks Company Profile
CenterState Bank Corporation, formerly 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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