Zacks Investment Research Upgrades Capstar Financial (CSTR) to Hold

Zacks Investment Research upgraded shares of Capstar Financial (NASDAQ:CSTR) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “CapStar Financial Holdings, Inc. is a bank holding company. It operates primarily through its wholly owned subsidiary, CapStar Bank. The Company offers banking products and services which include savings accounts, debit and credit cards, personal and business loans, mortgages, line of credit, wealth management and online banking. CapStar Financial Holdings, Inc. is headquartered in Nashville, Tennessee. “

CSTR has been the subject of several other reports. Raymond James upgraded shares of Capstar Financial from a market perform rating to an outperform rating and set a $17.00 price objective for the company in a report on Monday, October 29th. Compass Point upgraded shares of Capstar Financial from a sell rating to a neutral rating and set a $17.00 price objective for the company in a report on Wednesday, October 17th. ValuEngine upgraded shares of Capstar Financial from a sell rating to a hold rating in a report on Thursday, August 2nd. Finally, Sandler O’Neill upgraded shares of Capstar Financial from a hold rating to a buy rating and set a $19.00 price objective for the company in a report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $18.80.

CSTR traded up $0.33 on Tuesday, hitting $15.50. The company had a trading volume of 32,370 shares, compared to its average volume of 35,257. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.01 and a quick ratio of 0.96. Capstar Financial has a 52-week low of $13.93 and a 52-week high of $22.22. The firm has a market capitalization of $178.35 million, a PE ratio of 38.75 and a beta of 0.85.

Capstar Financial (NASDAQ:CSTR) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Capstar Financial had a net margin of 14.98% and a return on equity of 9.86%. The business had revenue of $14.76 million during the quarter, compared to analyst estimates of $15.00 million. Analysts expect that Capstar Financial will post 1.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, October 30th. Capstar Financial’s dividend payout ratio is 40.00%.

In other Capstar Financial news, insider Christopher G. Tietz bought 2,000 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was acquired at an average price of $14.96 per share, with a total value of $29,920.00. Following the completion of the purchase, the insider now owns 4,066 shares of the company’s stock, valued at $60,827.36. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis Bottorff bought 29,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were acquired at an average cost of $16.90 per share, with a total value of $490,100.00. Following the purchase, the director now directly owns 231,196 shares of the company’s stock, valued at approximately $3,907,212.40. The disclosure for this purchase can be found here. Insiders have acquired 44,667 shares of company stock valued at $756,366 in the last ninety days. Insiders own 18.27% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CSTR. Martingale Asset Management L P bought a new stake in shares of Capstar Financial during the third quarter valued at approximately $201,000. Acadian Asset Management LLC boosted its holdings in Capstar Financial by 253.3% in the second quarter. Acadian Asset Management LLC now owns 19,678 shares of the bank’s stock worth $365,000 after purchasing an additional 14,108 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Capstar Financial in the first quarter worth approximately $818,000. Russell Investments Group Ltd. boosted its holdings in Capstar Financial by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 56,176 shares of the bank’s stock worth $1,058,000 after purchasing an additional 3,994 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. boosted its holdings in Capstar Financial by 2.0% in the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 289,186 shares of the bank’s stock worth $5,359,000 after purchasing an additional 5,591 shares during the last quarter. 35.31% of the stock is owned by institutional investors.

About Capstar Financial

CapStar Financial Holdings, Inc operates as the holding company for CapStar Bank that provides commercial banking services to consumer and corporate customers located primarily in Davidson, Sumner, Williamson, and the surrounding counties in Tennessee, the United States. It offers a range of deposit products and services, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, certificates of deposit, and CDARS reciprocal products.

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