CenterState Banks, Inc. (CSFL) Expected to Announce Quarterly Sales of $82.30 Million
Brokerages forecast that CenterState Banks, Inc. (NASDAQ:CSFL) will announce sales of $82.30 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for CenterState Banks’ earnings, with estimates ranging from $81.10 million to $83.50 million. CenterState Banks reported sales of $60.93 million in the same quarter last year, which indicates a positive year-over-year growth rate of 35.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 17th.
According to Zacks, analysts expect that CenterState Banks will report full year sales of $82.30 million for the current financial year, with estimates ranging from $302.90 million to $311.90 million. For the next fiscal year, analysts forecast that the company will post sales of $347.45 million per share, with estimates ranging from $341.30 million to $353.60 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover CenterState Banks.
Several research firms have recently weighed in on CSFL. Stephens set a $29.00 price target on CenterState Banks and gave the stock a “buy” rating in a report on Monday. BidaskClub cut CenterState Banks from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Investment Research upgraded CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Friday, July 28th.
Shares of CenterState Banks (NASDAQ CSFL) traded down 1.20% during mid-day trading on Tuesday, hitting $24.72. 96,181 shares of the company were exchanged. CenterState Banks has a 12-month low of $17.00 and a 12-month high of $26.94. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 20.43 and a beta of 0.60. The firm has a 50 day moving average of $24.95 and a 200 day moving average of $24.99.
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A number of hedge funds have recently made changes to their positions in the stock. Donald L. Hagan LLC bought a new stake in shares of CenterState Banks during the first quarter valued at approximately $372,000. Boston Partners boosted its stake in shares of CenterState Banks by 1.5% in the first quarter. Boston Partners now owns 357,415 shares of the financial services provider’s stock valued at $9,257,000 after buying an additional 5,272 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of CenterState Banks by 225.3% in the first quarter. Bank of America Corp DE now owns 69,611 shares of the financial services provider’s stock valued at $1,803,000 after buying an additional 48,215 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of CenterState Banks by 1.1% in the first quarter. Russell Investments Group Ltd. now owns 304,191 shares of the financial services provider’s stock valued at $7,878,000 after buying an additional 3,430 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of CenterState Banks by 32.4% in the fourth quarter. Teachers Advisors LLC now owns 151,169 shares of the financial services provider’s stock valued at $3,805,000 after buying an additional 36,967 shares during the last quarter. Institutional investors and hedge funds own 69.07% of the company’s stock.
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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