Centerstate Bank Corp (NASDAQ:CSFL) Director James H. Bingham sold 3,900 shares of Centerstate Bank stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $26.55, for a total transaction of $103,545.00. Following the completion of the sale, the director now owns 120,467 shares of the company’s stock, valued at $3,198,398.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CSFL stock opened at $26.20 on Friday. The company has a 50 day moving average price of $24.45 and a 200-day moving average price of $23.52. Centerstate Bank Corp has a 52 week low of $19.55 and a 52 week high of $26.83. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.
Centerstate Bank (NASDAQ:CSFL) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $203.44 million during the quarter, compared to analyst estimates of $195.30 million. Centerstate Bank had a net margin of 26.20% and a return on equity of 9.63%. As a group, sell-side analysts anticipate that Centerstate Bank Corp will post 2.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.44 annualized dividend and a yield of 1.68%.
CSFL has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Centerstate Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Raymond James lifted their price target on shares of Centerstate Bank from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Zacks Investment Research lowered shares of Centerstate Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 31st. DA Davidson initiated coverage on shares of Centerstate Bank in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $25.00 price target for the company. Finally, ValuEngine upgraded shares of Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.83.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Centerstate Bank by 1,148.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,248 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,148 shares during the period. Hanson McClain Inc. bought a new stake in Centerstate Bank during the second quarter valued at approximately $57,000. Valeo Financial Advisors LLC bought a new stake in Centerstate Bank during the second quarter valued at approximately $68,000. Oppenheimer Asset Management Inc. bought a new stake in Centerstate Bank during the second quarter valued at approximately $79,000. Finally, Truvestments Capital LLC bought a new stake in Centerstate Bank during the second quarter valued at approximately $80,000. Institutional investors own 73.93% of the company’s stock.
Centerstate Bank Company Profile
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. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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