Centerstate Bank Corp (NASDAQ:CSFL) was the target of a significant growth in short interest during the month of September. As of September 28th, there was short interest totalling 2,506,992 shares, a growth of 72.3% from the September 14th total of 1,455,098 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,118,196 shares, the short-interest ratio is currently 2.2 days.
NASDAQ:CSFL opened at $25.82 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.87 and a quick ratio of 0.87. Centerstate Bank has a 12 month low of $24.96 and a 12 month high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $123.12 million during the quarter, compared to analysts’ expectations of $118.87 million. Centerstate Bank had a net margin of 21.38% and a return on equity of 8.96%. Analysts predict that Centerstate Bank will post 2.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, September 13th.
In related news, Director James H. Bingham sold 2,500 shares of Centerstate Bank stock in a transaction on Friday, August 31st. The shares were sold at an average price of $30.50, for a total transaction of $76,250.00. Following the completion of the transaction, the director now owns 120,573 shares of the company’s stock, valued at $3,677,476.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.35% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of CSFL. Mount Yale Investment Advisors LLC acquired a new stake in Centerstate Bank in the first quarter worth $117,000. Zeke Capital Advisors LLC acquired a new stake in Centerstate Bank in the second quarter worth $205,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Centerstate Bank in the second quarter worth $208,000. Amalgamated Bank acquired a new stake in Centerstate Bank in the first quarter worth $211,000. Finally, BB&T Securities LLC acquired a new stake in Centerstate Bank in the second quarter worth $213,000. Institutional investors and hedge funds own 82.47% of the company’s stock.
A number of equities analysts recently weighed in on CSFL shares. BidaskClub downgraded shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Sandler O’Neill downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a research note on Wednesday, September 12th. Brean Capital set a $33.00 target price on shares of Centerstate Bank and gave the stock a “buy” rating in a research note on Friday, August 24th. Finally, Zacks Investment Research raised shares of Centerstate Bank from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $31.43.
About Centerstate Bank
CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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