1492 Capital Management LLC lifted its position in Centerstate Bank Corp (NASDAQ:CSFL) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,882 shares of the financial services provider’s stock after purchasing an additional 8,774 shares during the quarter. Centerstate Bank makes up 2.1% of 1492 Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. 1492 Capital Management LLC owned about 0.17% of Centerstate Bank worth $2,647,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Centerstate Bank in the 3rd quarter valued at about $794,000. Swiss National Bank boosted its position in shares of Centerstate Bank by 9.4% in the 3rd quarter. Swiss National Bank now owns 92,696 shares of the financial services provider’s stock valued at $2,484,000 after purchasing an additional 8,000 shares during the period. Dean Investment Associates LLC boosted its position in shares of Centerstate Bank by 126.5% in the 3rd quarter. Dean Investment Associates LLC now owns 300,310 shares of the financial services provider’s stock valued at $8,048,000 after purchasing an additional 167,720 shares during the period. Stifel Financial Corp boosted its position in shares of Centerstate Bank by 9.7% in the 3rd quarter. Stifel Financial Corp now owns 171,030 shares of the financial services provider’s stock valued at $4,581,000 after purchasing an additional 15,110 shares during the period. Finally, ClariVest Asset Management LLC boosted its position in shares of Centerstate Bank by 3.4% in the 3rd quarter. ClariVest Asset Management LLC now owns 181,600 shares of the financial services provider’s stock valued at $4,867,000 after purchasing an additional 6,000 shares during the period. 78.85% of the stock is owned by hedge funds and other institutional investors.
In other Centerstate Bank news, Director Thomas E. Oakley sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $26.80, for a total transaction of $536,000.00. Following the completion of the sale, the director now directly owns 221,358 shares of the company’s stock, valued at approximately $5,932,394.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.65% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. This is a boost from Centerstate Bank’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 14th. Centerstate Bank’s dividend payout ratio (DPR) is presently 18.90%.
A number of analysts recently issued reports on the company. BidaskClub cut Centerstate Bank from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Brean Capital raised Centerstate Bank to a “buy” rating and set a $31.00 price objective for the company in a research report on Thursday, February 1st. Keefe, Bruyette & Woods raised Centerstate Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised Centerstate Bank from a “sell” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, December 26th. Finally, SunTrust Banks began coverage on Centerstate Bank in a research report on Tuesday, March 6th. They set a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Centerstate Bank presently has an average rating of “Hold” and a consensus price target of $30.00.
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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