Zacks Investment Research upgraded shares of CenterState Banks, Inc. (NASDAQ:CSFL) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $28.00 target price on the financial services provider’s stock.

According to Zacks, “CenterState Banks, Inc., formerly CenterState Banks of Florida, Inc., operates as a multi bank holding company, which provides consumer and commercial banking services to individuals, businesses, and industries. The Bank owns CenterState Bank Central Florida National Association, CenterState Bank National Association, CenterState Bank of Florida National Association, and Valrico State Bank (collectively, the Banks). Based in Davenport, Florida, the Company provides a range of consumer and commercial banking services to individuals, businesses, and industries. In addition, the Company make secured and unsecured commercial and real estate loans and issue stand-by letters of credit. Further, the company provides mutual funds, annuities, bonds, fixed income securities, and other products, as well as commercial checking accounts and loans to correspondent banks. “

Separately, BidaskClub raised shares of CenterState Banks from a sell rating to a hold rating in a report on Friday, June 30th.

Shares of CenterState Banks (CSFL) opened at 24.99 on Friday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 20.65 and a beta of 0.61. CenterState Banks has a 1-year low of $16.32 and a 1-year high of $26.94. The firm has a 50-day moving average of $24.90 and a 200 day moving average of $24.98.

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A number of hedge funds and other institutional investors have recently modified their holdings of CSFL. BlackRock Inc. boosted its position 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 valued at $90,760,000 after buying an additional 3,487,275 shares during the period. Vanguard Group Inc. boosted its position in CenterState Banks by 9.3% in the first quarter. Vanguard Group Inc. now owns 2,074,300 shares of the financial services provider’s stock valued at $53,725,000 after buying an additional 176,169 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in CenterState Banks by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,998,123 shares of the financial services provider’s stock valued at $51,752,000 after buying an additional 20,331 shares during the last quarter. Channing Capital Management LLC boosted its position in CenterState Banks by 57.2% in the second quarter. Channing Capital Management LLC now owns 1,900,665 shares of the financial services provider’s stock valued at $47,251,000 after buying an additional 691,476 shares during the last quarter. Finally, State Street Corp boosted its position in CenterState Banks by 20.8% in the first quarter. State Street Corp now owns 1,415,538 shares of the financial services provider’s stock valued at $36,662,000 after buying an additional 243,569 shares during the last quarter. 72.25% of the stock is owned by institutional investors and hedge funds.

CenterState Banks Company Profile

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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