CenterState Banks (NASDAQ:CSFL)‘s stock had its “hold” rating reiterated by equities researchers at Brean Capital in a report released on Wednesday.

A number of other research firms also recently issued reports on CSFL. Zacks Investment Research downgraded CenterState Banks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Stephens downgraded CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 price target on the stock. in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $28.00 price target on shares of CenterState Banks in a research report on Tuesday, October 3rd. BidaskClub downgraded CenterState Banks from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine downgraded CenterState Banks from a “buy” rating to a “hold” rating in a research 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.33.

CenterState Banks (CSFL) opened at $26.85 on Wednesday. The company has a market capitalization of $1,613.87, a price-to-earnings ratio of 19.32 and a beta of 0.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.85 and a quick ratio of 0.85. CenterState Banks has a 12-month low of $21.77 and a 12-month high of $27.95.

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

In related news, CFO Jennifer Idell sold 2,351 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.00, for a total transaction of $63,477.00. Following the sale, the chief financial officer now owns 9,053 shares of the company’s stock, valued at $244,431. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ernest S. Pinner sold 20,186 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $27.31, for a total value of $551,279.66. Following the sale, the insider now directly owns 131,766 shares in the company, valued at approximately $3,598,529.46. The disclosure for this sale can be found here. 3.65% of the stock is owned by company insiders.

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

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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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