Macquarie Group Ltd. boosted its holdings in Centerstate Bank Corp (NASDAQ:CSFL) by 6.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,509,931 shares of the financial services provider’s stock after purchasing an additional 158,504 shares during the quarter. Macquarie Group Ltd.’s holdings in Centerstate Bank were worth $57,804,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CSFL. Hanson McClain Inc. purchased a new stake in shares of Centerstate Bank during the second quarter valued at approximately $57,000. Valeo Financial Advisors LLC purchased a new stake in shares of Centerstate Bank during the second quarter valued at approximately $68,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Centerstate Bank during the second quarter valued at approximately $79,000. Truvestments Capital LLC purchased a new stake in shares of Centerstate Bank during the second quarter valued at approximately $80,000. Finally, CWM LLC raised its stake in shares of Centerstate Bank by 9,765.4% during the second quarter. CWM LLC now owns 5,130 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 5,078 shares during the period. Hedge funds and other institutional investors own 73.74% of the company’s stock.
In related news, Director Thomas E. Oakley purchased 3,575 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $23.03 per share, with a total value of $82,332.25. Following the completion of the transaction, the director now owns 206,631 shares of the company’s stock, valued at $4,758,711.93. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.75% of the company’s stock.
Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $196.62 million for the quarter, compared to analyst estimates of $193.83 million. Centerstate Bank had a net margin of 27.16% and a return on equity of 9.64%. Analysts expect that Centerstate Bank Corp will post 2.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.85%.
A number of analysts have recently issued reports on the stock. ValuEngine upgraded shares of Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, BidaskClub upgraded shares of Centerstate Bank from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $28.40.
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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