Shares of CenterState Banks, Inc. (NASDAQ:CSFL) have been assigned an average rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $28.50.

A number of research analysts recently weighed in on the stock. Brean Capital reissued a “hold” rating on shares of CenterState Banks in a research report on Monday, October 30th. BidaskClub lowered shares of CenterState Banks from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Stephens lowered shares of CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective on the stock. in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of CenterState Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $28.00 price objective on shares of CenterState Banks in a research report on Tuesday, October 3rd.

In other CenterState Banks news, insider Ernest S. Pinner sold 20,186 shares of CenterState Banks 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 owns 131,766 shares of the company’s stock, valued at $3,598,529.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jennifer Idell sold 2,351 shares of CenterState Banks 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 completion of the sale, the chief financial officer now directly owns 9,053 shares in the company, valued at approximately $244,431. The disclosure for this sale can be found here. Insiders own 3.65% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CSFL. Goldman Sachs Group Inc. raised its position 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 valued at $54,762,000 after purchasing an additional 787,562 shares during the period. Principal Financial Group Inc. raised its position 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 valued at $18,522,000 after purchasing an additional 376,362 shares during the period. Channing Capital Management LLC raised its position in shares of CenterState Banks by 15.5% in the third quarter. Channing Capital Management LLC now owns 2,195,409 shares of the financial services provider’s stock valued at $58,837,000 after purchasing an additional 294,744 shares during the period. Hillcrest Asset Management LLC bought a new stake in shares of CenterState Banks in the third quarter valued at approximately $7,681,000. Finally, AJO LP bought a new stake in shares of CenterState Banks in the second quarter valued at approximately $7,023,000. 75.84% of the stock is currently owned by institutional investors.

CenterState Banks (NASDAQ CSFL) opened at $26.85 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. CenterState Banks has a 12-month low of $21.77 and a 12-month high of $27.95. The firm has a market cap of $1,578.42, a PE ratio of 18.89 and a beta of 0.55.

The business 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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, December 14th. CenterState Banks’s dividend payout ratio is 18.90%.

CenterState Banks announced that its Board of Directors has approved a stock repurchase program on Thursday, September 7th that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board 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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