News articles about CenterState Banks (NASDAQ:CSFL) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. CenterState Banks earned a news sentiment score of 0.17 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 45.4948512778538 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
A number of analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $29.00 price objective on shares of CenterState Banks in a research report on Thursday, October 26th. ValuEngine cut 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 CenterState Banks and gave the stock a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research cut CenterState Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Brean Capital assumed coverage on CenterState Banks in a research report on Tuesday, August 29th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.33.
CenterState Banks (NASDAQ CSFL) traded up $0.07 during trading on Friday, reaching $26.63. The company had a trading volume of 81,653 shares, compared to its average volume of 257,114. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $1.61 billion, a PE ratio of 19.29 and a beta of 0.57.
CenterState Banks announced that its board has initiated a stock repurchase program on Thursday, September 7th that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a yield of 0.90%. CenterState Banks’s dividend payout ratio is presently 18.90%.
In other CenterState Banks news, Director Charles W. Mcpherson acquired 3,600 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $24.75 per share, for a total transaction of $89,100.00. Following the acquisition, the director now directly owns 27,144 shares of the company’s stock, valued at $671,814. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Ciferri acquired 4,500 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were acquired at an average price of $22.66 per share, for a total transaction of $101,970.00. Following the completion of the acquisition, the director now directly owns 307,237 shares in the company, valued at $6,961,990.42. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,100 shares of company stock worth $260,040 over the last 90 days. 3.65% of the stock is owned by company 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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