Brokerages Anticipate CenterState Banks, Inc. (NASDAQ:CSFL) Will Post Earnings of $0.31 Per Share
Analysts expect CenterState Banks, Inc. (NASDAQ:CSFL) to announce earnings of $0.31 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CenterState Banks’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.31. CenterState Banks posted earnings of $0.32 per share during the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The business is expected to issue its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that CenterState Banks will report full-year earnings of $1.36 per share for the current year, with EPS estimates ranging from $1.35 to $1.37. For the next fiscal year, analysts expect that the firm will report earnings of $1.61 per share, with EPS estimates ranging from $1.60 to $1.62. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CenterState Banks.
A number of equities analysts have commented on CSFL shares. Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Friday, March 31st. BidaskClub upgraded shares of CenterState Banks from a “sell” rating to a “hold” rating in a research report on Friday, June 30th.
In other news, Director Charles W. Mcpherson acquired 4,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was bought at an average price of $25.41 per share, for a total transaction of $101,640.00. Following the transaction, the director now owns 23,544 shares in the company, valued at $598,253.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.65% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of CenterState Banks by 20,548.4% in the first quarter. BlackRock Inc. now owns 3,504,246 shares of the financial services provider’s stock worth $90,760,000 after buying an additional 3,487,275 shares during the last quarter. Channing Capital Management LLC purchased a new position in shares of CenterState Banks during the first quarter worth approximately $31,318,000. Goldman Sachs Group Inc. increased its position in shares of CenterState Banks by 66.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,415,244 shares of the financial services provider’s stock worth $36,655,000 after buying an additional 565,558 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of CenterState Banks during the first quarter worth approximately $8,680,000. Finally, Peregrine Capital Management LLC purchased a new position in shares of CenterState Banks during the first quarter worth approximately $8,243,000. Institutional investors own 72.31% of the company’s stock.
Shares of CenterState Banks (NASDAQ CSFL) opened at 25.23 on Wednesday. The stock has a 50 day moving average of $24.82 and a 200-day moving average of $24.98. CenterState Banks has a 1-year low of $16.05 and a 1-year high of $26.94. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 19.65 and a beta of 0.61.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.95%. CenterState Banks’s payout ratio is currently 18.60%.
About CenterState Banks
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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