Brokerages Anticipate CenterState Banks, Inc. (CSFL) Will Post Quarterly Sales of $82.30 Million
Equities research analysts expect CenterState Banks, Inc. (NASDAQ:CSFL) to announce $82.30 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for CenterState Banks’ earnings. The lowest sales estimate is $81.10 million and the highest is $83.50 million. CenterState Banks posted sales of $60.93 million during the same quarter last year, which suggests a positive year-over-year growth rate of 35.1%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 17th.
On average, analysts expect that CenterState Banks will report full year sales of $82.30 million for the current fiscal year, with estimates ranging from $303.00 million to $311.90 million. For the next financial year, analysts forecast that the business will post sales of $449.85 million per share, with estimates ranging from $436.00 million to $463.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CenterState Banks.
CSFL has been the topic of a number of research reports. Zacks Investment Research upgraded CenterState Banks from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, June 8th. BidaskClub lowered CenterState Banks from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Brean Capital initiated coverage on CenterState Banks in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Stephens set a $29.00 price objective on CenterState Banks and gave the company a “buy” rating in a report on Monday, August 14th.
CenterState Banks (CSFL) opened at 24.37 on Friday. CenterState Banks has a 12-month low of $17.09 and a 12-month high of $26.94. The stock has a 50 day moving average of $24.80 and a 200 day moving average of $24.98. The stock has a market cap of $1.46 billion, a P/E ratio of 20.14 and a beta of 0.61.
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In related news, Director Charles W. Mcpherson bought 3,600 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $24.75 per share, with a total value of $89,100.00. Following the purchase, the director now directly owns 27,144 shares of the company’s stock, valued at $671,814. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.65% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Boston Partners increased its stake in shares of CenterState Banks by 1.5% in the first quarter. Boston Partners now owns 357,415 shares of the financial services provider’s stock worth $9,257,000 after buying an additional 5,272 shares during the period. Bank of America Corp DE increased its stake in shares of CenterState Banks by 225.3% in the first quarter. Bank of America Corp DE now owns 69,611 shares of the financial services provider’s stock worth $1,803,000 after buying an additional 48,215 shares during the period. Russell Investments Group Ltd. increased its stake in shares of CenterState Banks by 1.1% in the first quarter. Russell Investments Group Ltd. now owns 304,191 shares of the financial services provider’s stock worth $7,878,000 after buying an additional 3,430 shares during the period. BlackRock Inc. increased its stake in shares of CenterState Banks by 20,548.4% in the first quarter. BlackRock Inc. now owns 3,504,246 shares of the financial services provider’s stock worth $90,760,000 after buying an additional 3,487,275 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of CenterState Banks by 32.4% in the fourth quarter. Teachers Advisors LLC now owns 151,169 shares of the financial services provider’s stock worth $3,805,000 after buying an additional 36,967 shares during the period. 72.06% of the stock is owned by institutional investors and hedge funds.
About CenterState Banks
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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