Centerstate Bank Corp (NASDAQ:CSFL) Plans $0.11 Quarterly Dividend

Centerstate Bank Corp (NASDAQ:CSFL) declared a quarterly dividend on Thursday, July 18th, NASDAQ reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.11 per share by the financial services provider on Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Thursday, September 12th.

Centerstate Bank has increased its dividend payment by an average of 100.0% per year over the last three years and has raised its dividend every year for the last 3 years. Centerstate Bank has a dividend payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Centerstate Bank to earn $2.15 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 20.5%.

Shares of NASDAQ CSFL traded up $0.44 during trading hours on Tuesday, hitting $23.81. 21,292 shares of the stock were exchanged, compared to its average volume of 597,910. The company’s fifty day simple moving average is $22.99 and its two-hundred day simple moving average is $23.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. Centerstate Bank has a 1-year low of $19.55 and a 1-year high of $31.10.

Centerstate Bank (NASDAQ:CSFL) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Centerstate Bank had a net margin of 27.16% and a return on equity of 9.64%. The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $193.83 million. As a group, research analysts expect that Centerstate Bank will post 2.05 earnings per share for the current fiscal year.

In related news, Director Thomas E. Oakley bought 3,575 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $23.03 per share, with a total value of $82,332.25. Following the completion of the acquisition, the director now owns 206,631 shares of the company’s stock, valued at $4,758,711.93. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.75% of the stock is currently owned by corporate insiders.

CSFL has been the topic of several recent analyst reports. Zacks Investment Research upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. BidaskClub raised Centerstate Bank from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $28.40.

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. 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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Dividend History for Centerstate Bank (NASDAQ:CSFL)

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