Channing Capital Management LLC decreased its position in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,212,103 shares of the financial services provider’s stock after selling 44,342 shares during the period. Centerstate Bank comprises 2.2% of Channing Capital Management LLC’s portfolio, making the stock its 20th biggest position. Channing Capital Management LLC owned about 2.31% of Centerstate Bank worth $62,049,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in shares of Centerstate Bank by 19.0% in the second quarter. Legal & General Group Plc now owns 13,043 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 2,079 shares in the last quarter. Globeflex Capital L P increased its holdings in shares of Centerstate Bank by 13.2% in the second quarter. Globeflex Capital L P now owns 23,100 shares of the financial services provider’s stock valued at $689,000 after purchasing an additional 2,700 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Centerstate Bank by 34.2% in the second quarter. Aperio Group LLC now owns 10,976 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 2,798 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Centerstate Bank by 2.6% in the third quarter. Alliancebernstein L.P. now owns 128,859 shares of the financial services provider’s stock valued at $3,614,000 after purchasing an additional 3,287 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Centerstate Bank by 41.3% in the second quarter. Amalgamated Bank now owns 11,252 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 3,290 shares in the last quarter. 79.17% of the stock is owned by institutional investors.
CSFL opened at $25.01 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.89. Centerstate Bank Corp has a 52 week low of $22.75 and a 52 week high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last released its earnings results on Tuesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Centerstate Bank had a net margin of 22.11% and a return on equity of 9.02%. The firm had revenue of $128.96 million during the quarter, compared to analyst estimates of $125.03 million. Equities research analysts expect that Centerstate Bank Corp will post 2.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 13th.
CSFL has been the subject of a number of research reports. Brean Capital reissued a “buy” rating on shares of Centerstate Bank in a report on Monday, August 6th. BidaskClub raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Zacks Investment Research lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Sandler O’Neill lowered shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Wednesday, September 12th. Finally, ValuEngine lowered shares of Centerstate Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Centerstate Bank presently has an average rating of “Buy” and a consensus target price of $30.50.
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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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