Centerstate Bank Corp (CSFL) Short Interest Update
Centerstate Bank Corp (NASDAQ:CSFL) was the recipient of a significant decline in short interest in September. As of September 14th, there was short interest totalling 1,455,098 shares, a decline of 50.5% from the August 31st total of 2,938,409 shares. Based on an average daily volume of 586,300 shares, the short-interest ratio is currently 2.5 days. Approximately 1.8% of the company’s stock are short sold.
NASDAQ CSFL opened at $28.00 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 20.88 and a beta of 0.38. Centerstate Bank has a 12-month low of $25.03 and a 12-month high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating 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 net margin of 21.38% and a return on equity of 8.96%. analysts anticipate that Centerstate Bank will post 2.04 EPS for the current fiscal year.
In related news, Director James H. Bingham sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $30.50, for a total transaction of $76,250.00. Following the transaction, the director now directly owns 120,573 shares of the company’s stock, valued at $3,677,476.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.35% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC acquired a new stake in Centerstate Bank in the first quarter valued at approximately $117,000. SG Americas Securities LLC acquired a new stake in Centerstate Bank in the first quarter valued at approximately $182,000. Zeke Capital Advisors LLC acquired a new stake in Centerstate Bank in the second quarter valued at approximately $205,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Centerstate Bank in the second quarter valued at approximately $208,000. Finally, Amalgamated Bank acquired a new stake in Centerstate Bank in the first quarter valued at approximately $211,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. BidaskClub downgraded shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. Brean Capital reaffirmed a “buy” rating on shares of Centerstate Bank in a research report on Monday, August 6th. Finally, Sandler O’Neill downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Wednesday, September 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price 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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