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

Several research analysts have issued reports on CSFL shares. ValuEngine raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. 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. Raymond James raised their target price on Centerstate Bank from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Zacks Investment Research raised Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, BidaskClub cut Centerstate Bank from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

In other Centerstate Bank news, Director James H. Bingham sold 3,900 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $26.55, for a total value of $103,545.00. Following the transaction, the director now directly owns 120,467 shares of the company’s stock, valued at $3,198,398.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.75% of the company’s stock.

Several hedge funds have recently bought and sold shares of CSFL. Tower Research Capital LLC TRC lifted its position in shares of Centerstate Bank by 1,148.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,248 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,148 shares in the last quarter. Hanson McClain Inc. purchased a new position in shares of Centerstate Bank during the 2nd quarter valued at about $57,000. Valeo Financial Advisors LLC purchased a new position in shares of Centerstate Bank during the 2nd quarter valued at about $68,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Centerstate Bank during the 2nd quarter valued at about $79,000. Finally, Truvestments Capital LLC purchased a new position in shares of Centerstate Bank during the 2nd quarter valued at about $80,000. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

CSFL opened at $25.74 on Friday. Centerstate Bank has a 12-month low of $19.55 and a 12-month high of $26.83. The stock has a fifty day simple moving average of $24.64 and a two-hundred day simple moving average of $23.57. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $203.44 million during the quarter, compared to the consensus estimate of $195.30 million. Centerstate Bank had a return on equity of 9.63% and a net margin of 26.20%. Research analysts forecast that Centerstate Bank will post 2.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.11 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.44 annualized dividend and a yield of 1.71%.

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. 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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