CenterState Banks Inc. (CSFL) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS
CenterState Banks Inc. (NASDAQ:CSFL) released its earnings results on Monday. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. CenterState Banks had a return on equity of 7.61% and a net margin of 14.11%.
CenterState Banks (NASDAQ:CSFL) opened at 17.77 on Tuesday. The stock has a market cap of $853.05 million, a P/E ratio of 26.68 and a beta of 0.70. CenterState Banks has a 1-year low of $12.57 and a 1-year high of $18.40. The company has a 50-day moving average price of $17.87 and a 200 day moving average price of $16.46.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.04 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.16 annualized dividend and a yield of 0.90%. CenterState Banks’s payout ratio is 23.88%.
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A number of hedge funds have recently modified their holdings of CSFL. BlackRock Investment Management LLC raised its stake in shares of CenterState Banks by 12.3% in the second quarter. BlackRock Investment Management LLC now owns 197,579 shares of the financial services provider’s stock valued at $3,112,000 after buying an additional 21,632 shares during the period. BlackRock Inc. raised its stake in shares of 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. BlackRock Fund Advisors raised its stake in shares of CenterState Banks by 3.6% in the second quarter. BlackRock Fund Advisors now owns 1,199,883 shares of the financial services provider’s stock valued at $18,898,000 after buying an additional 41,507 shares during the period. Columbia Partners L L C Investment Management bought a new stake in shares of CenterState Banks during the second quarter valued at approximately $2,236,000. Finally, GAM Holding AG bought a new stake in shares of CenterState Banks during the second quarter valued at approximately $1,795,000. Institutional investors and hedge funds own 71.87% of the company’s stock.
Several equities analysts have recently issued reports on the company. Stephens raised CenterState Banks from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Wednesday, September 28th. Zacks Investment Research lowered CenterState Banks from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods upped their target price on CenterState Banks from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th.
CenterState Banks Company Profile
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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