CenterState Banks, Inc. (NASDAQ:CSFL)‘s stock had its “hold” rating restated by equities research analysts at Brean Capital in a report issued on Monday.

A number of other brokerages have also issued reports on CSFL. Stephens lowered shares of CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 price target on the stock. in a report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $29.00 price target on shares of CenterState Banks in a report on Thursday. Zacks Investment Research lowered shares of CenterState Banks from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BidaskClub raised shares of CenterState Banks from a “sell” rating to a “hold” rating in a research report on Sunday, August 6th. Finally, ValuEngine cut shares of CenterState Banks from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $28.33.

Shares of CenterState Banks (CSFL) traded down 1.89% during trading on Monday, hitting $27.02. 308,154 shares of the stock were exchanged. CenterState Banks has a 52 week low of $18.01 and a 52 week high of $27.78. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.33 and a beta of 0.60. The stock’s 50 day moving average price is $26.30 and its 200 day moving average price is $25.19.

CenterState Banks declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 7th that allows the company to buyback 3,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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In other news, Director Charles W. Mcpherson bought 3,600 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $24.75 per share, with a total value of $89,100.00. Following the completion of the acquisition, the director now owns 27,144 shares of the company’s stock, valued at $671,814. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Ciferri bought 4,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was purchased at an average cost of $22.66 per share, with a total value of $101,970.00. Following the completion of the acquisition, the director now directly owns 307,237 shares of the company’s stock, valued at approximately $6,961,990.42. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 11,100 shares of company stock valued at $260,040. 3.65% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake 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 acquiring an additional 3,487,275 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of CenterState Banks by 55.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,202,806 shares of the financial services provider’s stock worth $54,762,000 after acquiring an additional 787,562 shares during the period. Channing Capital Management LLC grew its stake in shares of CenterState Banks by 57.2% in the second quarter. Channing Capital Management LLC now owns 1,900,665 shares of the financial services provider’s stock worth $47,251,000 after acquiring an additional 691,476 shares during the period. Principal Financial Group Inc. grew its stake in shares of CenterState Banks by 102.1% in the second quarter. Principal Financial Group Inc. now owns 745,043 shares of the financial services provider’s stock worth $18,522,000 after acquiring an additional 376,362 shares during the period. Finally, AJO LP bought a new stake in shares of CenterState Banks in the second quarter worth approximately $7,023,000. 71.37% of the stock is owned by institutional investors and hedge funds.

About CenterState Banks

CenterState Bank Corporation, formerly 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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