Centerstate Bank Corp (NASDAQ:CSFL) Given Consensus Recommendation of “Buy” by Analysts

Shares of Centerstate Bank Corp (NASDAQ:CSFL) have been assigned an average rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $27.50.

Several research analysts have issued reports on CSFL shares. BidaskClub cut Centerstate Bank from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 10th. ValuEngine raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, DA Davidson started coverage on Centerstate Bank in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $25.00 target price on the stock.

In other Centerstate Bank news, Director Thomas E. Oakley bought 3,575 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $23.03 per share, with a total value of $82,332.25. Following the purchase, the director now 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 company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. IFG Advisory LLC bought a new stake in Centerstate Bank during the 2nd quarter valued at approximately $206,000. Bridgeworth LLC bought a new stake in Centerstate Bank in the 2nd quarter worth approximately $1,190,000. BB&T Securities LLC increased its stake in Centerstate Bank by 370.4% in the 2nd quarter. BB&T Securities LLC now owns 86,561 shares of the financial services provider’s stock worth $1,993,000 after acquiring an additional 68,158 shares during the last quarter. Hanson McClain Inc. bought a new stake in Centerstate Bank in the 2nd quarter worth approximately $57,000. Finally, Edge Capital Group LLC bought a new stake in Centerstate Bank in the 2nd quarter worth approximately $227,000. 73.72% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CSFL opened at $24.59 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The stock’s 50-day simple moving average is $23.82 and its two-hundred day simple moving average is $23.44. Centerstate Bank has a 52-week low of $19.55 and a 52-week high of $26.83.

Centerstate Bank (NASDAQ:CSFL) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $196.62 million for the quarter, compared to analysts’ expectations of $193.83 million. Centerstate Bank had a return on equity of 9.64% and a net margin of 27.16%. Equities analysts anticipate that Centerstate Bank will post 2.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, December 12th.

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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Analyst Recommendations for Centerstate Bank (NASDAQ:CSFL)

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