Aperio Group LLC Has $327,000 Stake in Centerstate Bank Corp (CSFL)
Aperio Group LLC grew its stake in Centerstate Bank Corp (NASDAQ:CSFL) by 34.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,976 shares of the financial services provider’s stock after purchasing an additional 2,798 shares during the period. Aperio Group LLC’s holdings in Centerstate Bank were worth $327,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CSFL. Dupont Capital Management Corp bought a new stake in Centerstate Bank during the 2nd quarter valued at $336,000. Pier 88 Investment Partners LLC bought a new stake in Centerstate Bank during the 2nd quarter valued at $593,000. Congress Asset Management Co. MA boosted its position in Centerstate Bank by 31.8% during the 2nd quarter. Congress Asset Management Co. MA now owns 129,013 shares of the financial services provider’s stock valued at $3,847,000 after acquiring an additional 31,124 shares in the last quarter. Ramsey Quantitative Systems bought a new stake in Centerstate Bank during the 2nd quarter valued at $337,000. Finally, Zeke Capital Advisors LLC bought a new stake in Centerstate Bank during the 2nd quarter valued at $205,000. 82.47% of the stock is owned by institutional investors and hedge funds.
In other Centerstate Bank news, Director James H. Bingham sold 2,500 shares of Centerstate Bank stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $30.50, for a total transaction of $76,250.00. Following the completion of the sale, the director now owns 120,573 shares of the company’s stock, valued at approximately $3,677,476.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.35% of the company’s stock.
Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. The firm had revenue of $123.12 million during the quarter, compared to analysts’ expectations of $118.87 million. Centerstate Bank had a return on equity of 8.96% and a net margin of 21.38%. sell-side analysts anticipate that Centerstate Bank Corp will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%.
A number of analysts have recently weighed in on CSFL shares. Zacks Investment Research cut Centerstate Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub cut Centerstate Bank from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Brean Capital set a $33.00 price objective on Centerstate Bank and gave the stock a “buy” rating in a research report on Friday, August 24th. Finally, Raymond James cut Centerstate Bank from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Tuesday, May 29th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Centerstate Bank has a consensus rating of “Buy” and an average price target of $31.43.
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 in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.
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