Centerstate Bank (CSFL) Cut to Strong Sell at BidaskClub

Centerstate Bank (NASDAQ:CSFL) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Centerstate Bank from a “sell” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, December 26th. Stephens cut shares of Centerstate Bank from an “overweight” rating to an “equal weight” rating and set a $28.00 price target for the company. in a research note on Tuesday, October 24th. Brean Capital reiterated a “hold” rating on shares of Centerstate Bank in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $29.00 price target on shares of Centerstate Bank in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Centerstate Bank has a consensus rating of “Hold” and a consensus target price of $29.00.

Centerstate Bank (NASDAQ CSFL) traded up $0.16 during midday trading on Friday, hitting $25.67. 348,513 shares of the company were exchanged, compared to its average volume of 445,120. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $1,530.00, a P/E ratio of 20.37 and a beta of 0.55. Centerstate Bank has a 1 year low of $25.03 and a 1 year high of $26.74.

Centerstate Bank (NASDAQ:CSFL) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $79.33 million for the quarter, compared to the consensus estimate of $82.05 million. Centerstate Bank had a net margin of 27.80% and a return on equity of 9.81%. equities analysts expect that Centerstate Bank will post 1.42 earnings per share for the current year.

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

A number of large investors have recently modified their holdings of CSFL. Advisor Group Inc. boosted its stake in Centerstate Bank by 2.9% during 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 period. Globeflex Capital L P acquired a new stake in shares of Centerstate Bank in the 2nd quarter worth $115,000. Ameritas Investment Partners Inc. lifted its stake in shares of Centerstate Bank 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 acquiring an additional 730 shares during the period. First Bank & Trust acquired a new stake in shares of Centerstate Bank in the 3rd quarter worth $181,000. Finally, Jane Street Group LLC acquired a new stake in shares of Centerstate Bank in the 3rd quarter worth $218,000. Hedge funds and other institutional investors own 75.79% of the company’s stock.

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Centerstate Bank Company Profile

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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