River Oaks Capital LLC lowered its position in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,700 shares of the financial services provider’s stock after selling 13,600 shares during the quarter. Centerstate Bank accounts for approximately 6.3% of River Oaks Capital LLC’s investment portfolio, making the stock its biggest holding. River Oaks Capital LLC owned 0.27% of Centerstate Bank worth $7,313,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CSFL. Minerva Advisors LLC bought a new position in Centerstate Bank in the 3rd quarter valued at $2,891,000. Credit Suisse AG boosted its holdings in Centerstate Bank by 23.2% in the 3rd quarter. Credit Suisse AG now owns 123,855 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 23,355 shares during the period. Affinity Investment Advisors LLC boosted its holdings in Centerstate Bank by 26.8% in the 3rd quarter. Affinity Investment Advisors LLC now owns 16,765 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 3,539 shares during the period. American International Group Inc. boosted its holdings in Centerstate Bank by 12.9% in the 3rd quarter. American International Group Inc. now owns 60,819 shares of the financial services provider’s stock valued at $1,706,000 after purchasing an additional 6,972 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Centerstate Bank by 12.6% during the 3rd quarter. BlackRock Inc. now owns 5,846,080 shares of the financial services provider’s stock worth $163,980,000 after acquiring an additional 654,028 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CSFL opened at $24.25 on Monday. Centerstate Bank Corp has a 52-week low of $22.75 and a 52-week high of $32.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.89.
Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $128.96 million during the quarter, compared to the consensus estimate of $125.03 million. Centerstate Bank had a net margin of 22.11% and a return on equity of 9.02%. As a group, sell-side analysts expect that Centerstate Bank Corp will post 2.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 13th.
A number of research firms have recently issued reports on CSFL. Brean Capital set a $33.00 price objective on shares of Centerstate Bank and gave the stock a “buy” rating in a report on Friday, August 24th. Sandler O’Neill downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Wednesday, September 12th. Zacks Investment Research downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating in a report on Friday, August 10th. BidaskClub raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, ValuEngine downgraded shares of Centerstate Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $31.40.
In other Centerstate Bank news, Director James H. Bingham sold 2,500 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $30.50, for a total value of $76,250.00. Following the completion of the sale, the director now directly owns 120,573 shares of the company’s stock, valued at $3,677,476.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.35% of the company’s stock.
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About Centerstate Bank
CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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