BidaskClub cut shares of CenterState Banks (NASDAQ:CSFL) from a hold rating to a sell rating in a research report released on Thursday.

CSFL has been the subject of a number of other research reports. ValuEngine downgraded shares of CenterState Banks from a buy rating to a hold rating in a report on Thursday, September 7th. Brean Capital reiterated a hold rating on shares of CenterState Banks in a research note on Monday, October 30th. Stephens set a $29.00 target price on shares of CenterState Banks and gave the stock a buy rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $29.00 target price on shares of CenterState Banks in a research note on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of CenterState Banks from a hold rating to a sell rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of Hold and a consensus price target of $28.33.

Shares of CenterState Banks (CSFL) opened at $26.85 on Thursday. CenterState Banks has a 1-year low of $21.77 and a 1-year high of $27.95. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1,613.87, a PE ratio of 19.32 and a beta of 0.55.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.89%. CenterState Banks’s payout ratio is 12.60%.

CenterState Banks declared that its board has authorized a stock repurchase program on Thursday, September 7th that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, CFO Jennifer Idell sold 2,351 shares of CenterState Banks stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.00, for a total value of $63,477.00. Following the completion of the transaction, the chief financial officer now owns 9,053 shares in the company, valued at $244,431. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest S. Pinner sold 20,186 shares of CenterState Banks stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $27.31, for a total transaction of $551,279.66. Following the completion of the transaction, the insider now owns 131,766 shares of the company’s stock, valued at approximately $3,598,529.46. The disclosure for this sale can be found here. 3.65% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CSFL. Advisor Group Inc. boosted its position in shares of CenterState Banks by 2.9% in the second quarter. Advisor Group Inc. now owns 4,016 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 115 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CenterState Banks by 248.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,206 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 3,000 shares during the period. Globeflex Capital L P bought a new position in shares of CenterState Banks in the second quarter valued at approximately $115,000. Ameritas Investment Partners Inc. boosted its position in shares of CenterState Banks by 18.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,735 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 730 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of CenterState Banks by 2,146.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 5,410 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

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CenterState Banks Company Profile

CenterState Bank Corporation, formerly CenterState Banks, Inc, is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.

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