Legal & General Group Plc Has $329,000 Position in CenterState Banks, Inc. (CSFL)

Legal & General Group Plc increased its position in shares of CenterState Banks, Inc. (NASDAQ:CSFL) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,224 shares of the financial services provider’s stock after purchasing an additional 1,253 shares during the period. Legal & General Group Plc’s holdings in CenterState Banks were worth $329,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of CenterState Banks by 20,548.4% during the first quarter. BlackRock Inc. now owns 3,504,246 shares of the financial services provider’s stock worth $90,760,000 after purchasing an additional 3,487,275 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of CenterState Banks by 9.3% during the first quarter. Vanguard Group Inc. now owns 2,074,300 shares of the financial services provider’s stock worth $53,725,000 after purchasing an additional 176,169 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CenterState Banks by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,998,123 shares of the financial services provider’s stock worth $51,752,000 after purchasing an additional 20,331 shares in the last quarter. Channing Capital Management LLC grew its stake in shares of CenterState Banks by 57.2% during the second quarter. Channing Capital Management LLC now owns 1,900,665 shares of the financial services provider’s stock worth $47,251,000 after purchasing an additional 691,476 shares in the last quarter. Finally, State Street Corp grew its stake in shares of CenterState Banks by 20.8% during the first quarter. State Street Corp now owns 1,415,538 shares of the financial services provider’s stock worth $36,662,000 after purchasing an additional 243,569 shares in the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.

CenterState Banks, Inc. (NASDAQ CSFL) opened at 26.96 on Monday. CenterState Banks, Inc. has a 52 week low of $17.72 and a 52 week high of $27.06. The company’s 50 day moving average is $25.08 and its 200-day moving average is $24.96. The firm has a market cap of $1.62 billion, a P/E ratio of 22.28 and a beta of 0.60.

CenterState Banks announced that its board has authorized a stock buyback program on Thursday, September 7th that authorizes the company to repurchase 3,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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A number of equities analysts recently commented on CSFL shares. BidaskClub upgraded shares of CenterState Banks from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, July 28th. Stephens set a $29.00 target price on shares of CenterState Banks and gave the stock a “buy” rating in a research note on Monday, August 14th. Brean Capital started coverage on shares of CenterState Banks in a research note on Tuesday, August 29th. They set a “hold” rating for the company. Finally, ValuEngine downgraded shares of CenterState Banks from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.33.

In related news, Director Michael F. Ciferri bought 4,500 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $22.66 per share, with a total value of $101,970.00. Following the transaction, the director now owns 307,237 shares of the company’s stock, valued at $6,961,990.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles W. Mcpherson bought 3,600 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $24.75 per share, with a total value of $89,100.00. Following the transaction, the director now directly owns 27,144 shares in the company, valued at approximately $671,814. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,100 shares of company stock worth $260,040 in the last ninety days. 3.65% of the stock is currently owned by insiders.

CenterState Banks 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.

Institutional Ownership by Quarter for CenterState Banks (NASDAQ:CSFL)

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