Short Interest in Centerstate Bank Corp (NASDAQ:CSFL) Grows By 6.8%

Centerstate Bank Corp (NASDAQ:CSFL) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,210,000 shares, an increase of 6.8% from the January 15th total of 2,070,000 shares. Based on an average trading volume of 520,500 shares, the short-interest ratio is currently 4.2 days. Approximately 1.8% of the shares of the stock are short sold.

NASDAQ:CSFL traded down $0.31 during mid-day trading on Friday, hitting $23.76. 430,489 shares of the stock traded hands, compared to its average volume of 895,846. The business’s 50-day moving average price is $24.07 and its 200 day moving average price is $24.25. The company has a market cap of $3.00 billion, a PE ratio of 12.71 and a beta of 1.05. Centerstate Bank has a 12-month low of $21.57 and a 12-month high of $26.83. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.22.

Centerstate Bank (NASDAQ:CSFL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. Centerstate Bank had a net margin of 26.46% and a return on equity of 9.88%. The company had revenue of $208.25 million during the quarter, compared to analysts’ expectations of $196.77 million. Analysts anticipate that Centerstate Bank will post 2.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, March 13th. This is a boost from Centerstate Bank’s previous quarterly dividend of $0.11. Centerstate Bank’s payout ratio is currently 20.66%.

Several brokerages recently commented on CSFL. BidaskClub raised shares of Centerstate Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 6th. ValuEngine raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Keefe, Bruyette & Woods cut shares of Centerstate Bank from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $27.00 to $24.50 in a research note on Wednesday, January 29th. Stephens cut shares of Centerstate Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 28th. Finally, Zacks Investment Research cut shares of Centerstate Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Centerstate Bank has a consensus rating of “Hold” and a consensus target price of $25.50.

In other news, CFO William E. V. Matthews acquired 5,000 shares of Centerstate Bank stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $22.89 per share, with a total value of $114,450.00. Following the completion of the purchase, the chief financial officer now owns 91,326 shares in the company, valued at $2,090,452.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.75% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Squar Milner Financial Services LLC grew its stake in Centerstate Bank by 178.2% in the 4th quarter. Squar Milner Financial Services LLC now owns 1,007 shares of the financial services provider’s stock worth $25,000 after buying an additional 645 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Centerstate Bank by 1,148.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,248 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,148 shares in the last quarter. First Mercantile Trust Co. grew its stake in Centerstate Bank by 11.6% in the 3rd quarter. First Mercantile Trust Co. now owns 4,197 shares of the financial services provider’s stock worth $101,000 after buying an additional 436 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Centerstate Bank by 12.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,170 shares of the financial services provider’s stock worth $104,000 after buying an additional 462 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Centerstate Bank by 52.0% in the 4th quarter. IFP Advisors Inc now owns 4,384 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,500 shares in the last quarter. 77.02% of the stock is owned by institutional investors and hedge funds.

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. 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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