Mutual of America Capital Management LLC purchased a new position in Centerstate Bank Corp (NASDAQ:CSFL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 208,513 shares of the financial services provider’s stock, valued at approximately $5,849,000. Mutual of America Capital Management LLC owned approximately 0.22% of Centerstate Bank at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in Centerstate Bank during the 3rd quarter valued at about $114,000. IFP Advisors Inc increased its position in Centerstate Bank by 300.0% during the 3rd quarter. IFP Advisors Inc now owns 6,320 shares of the financial services provider’s stock valued at $177,000 after buying an additional 4,740 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Centerstate Bank during the 2nd quarter valued at about $208,000. MML Investors Services LLC acquired a new position in Centerstate Bank during the 3rd quarter valued at about $210,000. Finally, BB&T Securities LLC acquired a new position in Centerstate Bank during the 2nd quarter valued at about $213,000. 79.17% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David G. Salyers bought 2,000 shares of the stock in a transaction dated Friday, December 7th. The shares were purchased at an average price of $22.91 per share, for a total transaction of $45,820.00. Following the completion of the purchase, the director now directly owns 7,392 shares of the company’s stock, valued at $169,350.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles W. Mcpherson bought 4,000 shares of the stock in a transaction dated Wednesday, November 28th. The stock was bought at an average price of $24.97 per share, for a total transaction of $99,880.00. Following the purchase, the director now directly owns 33,437 shares of the company’s stock, valued at $834,921.89. The disclosure for this purchase can be found here. 2.35% of the stock is currently owned by insiders.
Centerstate Bank stock opened at $23.02 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 16.86 and a beta of 0.56. Centerstate Bank Corp has a fifty-two week low of $22.65 and a fifty-two week high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The business had revenue of $128.96 million for the quarter, compared to the consensus estimate of $125.03 million. Centerstate Bank had a return on equity of 9.02% and a net margin of 22.11%. On average, research analysts forecast that Centerstate Bank Corp will post 2.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.40 annualized dividend and a yield of 1.74%.
Several research firms have weighed in on CSFL. Zacks Investment Research upgraded Centerstate Bank from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Thursday, November 29th. Sandler O’Neill upgraded Centerstate Bank from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, November 27th. BidaskClub downgraded Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a research note on Monday, October 29th. Finally, Stephens reiterated a “buy” rating and set a $30.00 price target on shares of Centerstate Bank in a research note on Monday, November 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.50.
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Centerstate Bank Company Profile
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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