BidaskClub Lowers CenterState Banks, Inc. (CSFL) to Sell
CenterState Banks, Inc. (NASDAQ:CSFL) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.
Separately, Zacks Investment Research cut shares of CenterState Banks from a “buy” rating to a “hold” rating in a research report on Friday.
Shares of CenterState Banks (NASDAQ:CSFL) traded down 0.66% during trading on Friday, hitting $24.21. The stock had a trading volume of 789,875 shares. CenterState Banks has a one year low of $14.71 and a one year high of $26.94. The stock has a market cap of $1.34 billion, a P/E ratio of 18.86 and a beta of 0.58. The stock’s 50 day moving average price is $24.83 and its 200-day moving average price is $25.02.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.24 annualized dividend and a yield of 0.99%. CenterState Banks’s dividend payout ratio is currently 18.60%.
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In related news, Director Charles W. Mcpherson purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were purchased at an average cost of $25.41 per share, for a total transaction of $101,640.00. Following the purchase, the director now directly owns 23,544 shares of the company’s stock, valued at $598,253.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.65% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of CenterState Banks during the first quarter valued at approximately $104,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of CenterState Banks during the fourth quarter valued at approximately $209,000. Driehaus Capital Management LLC bought a new stake in shares of CenterState Banks during the first quarter valued at approximately $222,000. Tudor Investment Corp ET AL bought a new stake in shares of CenterState Banks during the first quarter valued at approximately $261,000. Finally, Legal & General Group Plc raised its stake in shares of CenterState Banks by 1.6% in the first quarter. Legal & General Group Plc now owns 11,971 shares of the financial services provider’s stock valued at $309,000 after buying an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.
CenterState Banks Company Profile
CenterState Banks, Inc is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.
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