Centerstate Bank (NASDAQ:CSFL) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Centerstate Bank (NASDAQ:CSFL) from a buy rating to a strong-buy rating in a research report released on Wednesday morning, BidAskClub reports.

Separately, Zacks Investment Research raised shares of Centerstate Bank from a sell rating to a hold rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $28.40.

Shares of NASDAQ:CSFL opened at $24.59 on Wednesday. The company has a 50-day moving average price of $23.12 and a 200-day moving average price of $23.59. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. Centerstate Bank has a 12 month low of $19.55 and a 12 month high of $31.10.



Centerstate Bank (NASDAQ:CSFL) last issued 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. The firm had revenue of $196.62 million during the quarter, compared to the consensus estimate of $193.83 million. Centerstate Bank had a net margin of 27.16% and a return on equity of 9.64%. Equities analysts expect that Centerstate Bank will post 2.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, September 12th.

In related news, Director Thomas E. Oakley purchased 3,575 shares of Centerstate Bank stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $23.03 per share, for a total transaction of $82,332.25. Following the completion of the transaction, the director now directly owns 206,631 shares of the company’s stock, valued at $4,758,711.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.75% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CSFL. Bremer Bank National Association purchased a new position in shares of Centerstate Bank during the first quarter valued at about $34,000. Hanson McClain Inc. purchased a new position in shares of Centerstate Bank during the second quarter valued at about $57,000. Valeo Financial Advisors LLC purchased a new position in shares of Centerstate Bank during the second quarter valued at about $68,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Centerstate Bank during the second quarter valued at about $79,000. Finally, Truvestments Capital LLC purchased a new position in shares of Centerstate Bank during the second quarter valued at about $80,000. Institutional investors own 73.74% of the company’s stock.

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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