BidaskClub lowered shares of Centerstate Bank (NASDAQ:CSFL) from a hold rating to a sell rating in a report released on Friday.

CSFL has been the subject of a number of other reports. Brean Capital reiterated a buy rating on shares of Centerstate Bank in a research note on Sunday, September 30th. Zacks Investment Research cut Centerstate Bank from a buy rating to a hold rating in a research note on Monday, July 30th. ValuEngine cut Centerstate Bank from a hold rating to a sell rating in a research note on Thursday. Finally, Sandler O’Neill cut Centerstate Bank from a buy rating to a hold rating and set a $33.00 price target for the company. in a research note on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $31.43.

Centerstate Bank stock traded down $0.49 during midday trading on Friday, reaching $25.02. The company’s stock had a trading volume of 369,825 shares, compared to its average volume of 727,756. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.87. Centerstate Bank has a 52-week low of $24.96 and a 52-week high of $32.27. The stock has a market cap of $2.15 billion, a PE ratio of 18.35 and a beta of 0.38.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Centerstate Bank had a return on equity of 8.96% and a net margin of 21.38%. The company had revenue of $123.12 million during the quarter, compared to analysts’ expectations of $118.87 million. As a group, sell-side analysts predict that Centerstate Bank will post 2.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Thursday, September 13th.

In other news, Director James H. Bingham sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $30.50, for a total value of $76,250.00. Following the completion of the transaction, the director now directly owns 120,573 shares in the company, valued at $3,677,476.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.35% of the company’s stock.

Several large investors have recently made changes to their positions in CSFL. BlackRock Inc. raised its stake in shares of Centerstate Bank by 31.4% in the second quarter. BlackRock Inc. now owns 5,192,052 shares of the financial services provider’s stock worth $154,827,000 after purchasing an additional 1,242,064 shares during the last quarter. Millennium Management LLC raised its stake in shares of Centerstate Bank by 140.3% in the first quarter. Millennium Management LLC now owns 1,540,764 shares of the financial services provider’s stock worth $40,876,000 after purchasing an additional 899,674 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Centerstate Bank by 25.2% in the second quarter. Schroder Investment Management Group now owns 2,378,550 shares of the financial services provider’s stock worth $72,022,000 after purchasing an additional 479,125 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Centerstate Bank by 36.9% in the first quarter. Principal Financial Group Inc. now owns 1,018,647 shares of the financial services provider’s stock worth $27,024,000 after purchasing an additional 274,718 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Centerstate Bank by 28.5% in the second quarter. Northern Trust Corp now owns 916,279 shares of the financial services provider’s stock worth $27,322,000 after purchasing an additional 202,988 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Centerstate Bank

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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Analyst Recommendations for Centerstate Bank (NASDAQ:CSFL)

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