Centerstate Bank Corp (NASDAQ:CSFL) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Friday, June 14th will be given a dividend of 0.11 per share by the financial services provider on Friday, June 28th. This represents a $0.44 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, June 13th.
Centerstate Bank has raised its dividend payment by an average of 100.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Centerstate Bank has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Centerstate Bank to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.0%.
CSFL opened at $22.44 on Wednesday. Centerstate Bank has a 52-week low of $19.55 and a 52-week high of $31.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.91 and a current ratio of 0.91.
Several analysts have issued reports on the company. Zacks Investment Research lowered Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. BidaskClub upgraded Centerstate Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. ValuEngine lowered Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Stephens restated a “buy” rating and issued a $30.00 price objective on shares of Centerstate Bank in a research note on Friday, March 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Centerstate Bank presently has a consensus rating of “Hold” and an average price target of $28.40.
In other Centerstate Bank news, Director George Tierso Nunez II sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $26.16, for a total value of $392,400.00. Following the sale, the director now owns 13,977 shares in the company, valued at $365,638.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.75% of the stock is owned by corporate insiders.
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. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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