Wall Street brokerages forecast that CenterState Banks, Inc. (NASDAQ:CSFL) will post $80.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for CenterState Banks’ earnings, with estimates ranging from $80.00 million to $80.90 million. CenterState Banks reported sales of $64.69 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.4%. The company is expected to issue its next earnings report on Thursday, January 25th.

On average, analysts expect that CenterState Banks will report full-year sales of $80.45 million for the current financial year, with estimates ranging from $300.10 million to $305.40 million. For the next year, analysts expect that the firm will report sales of $457.80 million per share, with estimates ranging from $456.60 million to $459.00 million. Zacks’ sales averages are an average based on a survey of research firms that follow CenterState Banks.

CSFL has been the topic of several recent analyst reports. Stephens set a $29.00 target price on shares of CenterState Banks and gave the stock a “buy” rating in a report on Monday, August 14th. Brean Capital restated a “hold” rating on shares of CenterState Banks in a report on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $29.00 target price on shares of CenterState Banks in a report on Thursday, October 26th. Zacks Investment Research cut shares of CenterState Banks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, ValuEngine cut shares of CenterState Banks from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $28.33.

In other CenterState Banks news, CFO Jennifer Idell sold 2,351 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.00, for a total transaction of $63,477.00. Following the completion of the transaction, the chief financial officer now owns 9,053 shares of the company’s stock, valued at $244,431. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David G. Salyers acquired 2,000 shares of the stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $22.49 per share, with a total value of $44,980.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $67,470. The disclosure for this purchase can be found here. Company insiders own 3.65% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. raised its position in shares of CenterState Banks by 2.9% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 115 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CenterState Banks by 248.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,206 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 3,000 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of CenterState Banks in the 2nd quarter worth about $115,000. Ameritas Investment Partners Inc. raised its position in shares of CenterState Banks by 18.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,735 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 730 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of CenterState Banks by 2,146.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 5,410 shares during the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

CenterState Banks (NASDAQ CSFL) opened at $26.85 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.03. CenterState Banks has a fifty-two week low of $21.77 and a fifty-two week high of $27.95. The stock has a market cap of $1,650.55, a P/E ratio of 19.75 and a beta of 0.55.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, December 14th. CenterState Banks’s dividend payout ratio is currently 12.60%.

CenterState Banks declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 7th that permits the company to buyback 3,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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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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Earnings History and Estimates for CenterState Banks (NASDAQ:CSFL)

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