CenterState Banks Inc. (CSFL) Sees Strong Trading Volume
CenterState Banks Inc. (NASDAQ:CSFL) shares saw an uptick in trading volume on Wednesday . 211,667 shares were traded during trading, an increase of 53% from the previous session’s volume of 138,616 shares.The stock last traded at $17.96 and had previously closed at $17.77.
Several research firms have weighed in on CSFL. Keefe, Bruyette & Woods upped their price objective on shares of CenterState Banks from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Stephens started coverage on shares of CenterState Banks in a report on Wednesday, May 25th. They set an “equal weight” rating and a $17.50 price objective on the stock. Finally, Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Thursday, July 28th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $17.88.
The company’s 50 day moving average is $17.54 and its 200 day moving average is $16.08. The stock has a market capitalization of $863.13 million, a P/E ratio of 27.00 and a beta of 0.80.
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CenterState Banks (NASDAQ:CSFL) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. CenterState Banks had a net margin of 14.11% and a return on equity of 7.61%. Analysts expect that CenterState Banks Inc. will post $1.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, September 13th. CenterState Banks’s dividend payout ratio (DPR) is currently 23.88%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Huntington Asset Advisors Inc. bought a new stake in CenterState Banks during the first quarter valued at $161,000. BlackRock Inc. boosted its stake in CenterState Banks by 261.1% in the second quarter. BlackRock Inc. now owns 11,767 shares of the financial services provider’s stock valued at $185,000 after buying an additional 8,508 shares during the period. Rehmann Capital Advisory Group bought a new stake in CenterState Banks during the first quarter valued at $234,000. AXA bought a new stake in CenterState Banks during the second quarter valued at $246,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in CenterState Banks during the first quarter valued at $268,000. Institutional investors and hedge funds own 71.94% of the company’s stock.
About CenterState Banks
CenterState Banks, Inc (CSFL) is a bank holding company, which owns CenterState Bank of Florida, N.A. (CSB or the Bank) and a non-bank subsidiary, R4ALL, Inc (R4ALL). The Company’s basic services include demand interest-bearing and noninterest-bearing accounts, money market deposit accounts, time deposits, safe deposit services, cash management, direct deposits, notary services, money orders, night depository, travelers’ checks, cashier’s checks, domestic collections, savings bonds, bank drafts, automated teller services, drive-in tellers, and banking by mail and by Internet.
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