Centerstate Bank Corp (CSFL) Position Boosted by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P boosted its position in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,679 shares of the financial services provider’s stock after acquiring an additional 13,632 shares during the period. Loomis Sayles & Co. L P owned 0.61% of Centerstate Bank worth $16,428,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Centerstate Bank by 12.6% during the third quarter. JPMorgan Chase & Co. now owns 757,668 shares of the financial services provider’s stock valued at $21,253,000 after acquiring an additional 84,730 shares in the last quarter. Banc Funds Co. LLC grew its stake in Centerstate Bank by 11.6% during the third quarter. Banc Funds Co. LLC now owns 353,833 shares of the financial services provider’s stock valued at $9,925,000 after acquiring an additional 36,683 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Centerstate Bank by 117.6% during the third quarter. Allianz Asset Management GmbH now owns 1,056,678 shares of the financial services provider’s stock valued at $29,640,000 after acquiring an additional 571,090 shares in the last quarter. Royce & Associates LP grew its stake in Centerstate Bank by 1.4% during the third quarter. Royce & Associates LP now owns 580,837 shares of the financial services provider’s stock valued at $16,292,000 after acquiring an additional 7,984 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Centerstate Bank by 12.6% during the third quarter. Hsbc Holdings PLC now owns 53,767 shares of the financial services provider’s stock valued at $1,508,000 after acquiring an additional 6,029 shares in the last quarter. 79.17% of the stock is owned by institutional investors.

CSFL stock opened at $23.02 on Friday. 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 one year low of $22.65 and a one year high of $32.27. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 16.86 and a beta of 0.56.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Centerstate Bank had a net margin of 22.11% and a return on equity of 9.02%. The business had revenue of $128.96 million during the quarter, compared to analysts’ expectations of $125.03 million. As a group, equities research analysts forecast that Centerstate Bank Corp will post 2.06 earnings per share for the current fiscal year.

The business 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 $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%.

In related news, Director Charles W. Mcpherson purchased 4,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was acquired at an average price of $24.97 per share, with a total value of $99,880.00. Following the purchase, the director now directly owns 33,437 shares in the company, valued at $834,921.89. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David G. Salyers purchased 2,000 shares of the business’s stock in a transaction on Friday, December 7th. The stock was bought at an average cost of $22.91 per share, with a total value of $45,820.00. Following the purchase, the director now owns 7,392 shares in the company, valued at $169,350.72. The disclosure for this purchase can be found here. 2.35% of the stock is owned by insiders.

Several brokerages recently commented on CSFL. Brean Capital reaffirmed a “buy” rating on shares of Centerstate Bank in a research note on Sunday, September 30th. BidaskClub cut shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. Zacks Investment Research raised shares of Centerstate Bank from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research note on Thursday, November 29th. Sandler O’Neill raised shares of Centerstate Bank from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, November 27th. Finally, ValuEngine cut shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Centerstate Bank presently has an average rating of “Hold” and an average price target 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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Institutional Ownership by Quarter for Centerstate Bank (NASDAQ:CSFL)

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