Goldman Sachs Group Inc. increased its position in CenterState Banks, Inc. (NASDAQ:CSFL) by 55.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,202,806 shares of the financial services provider’s stock after buying an additional 787,562 shares during the quarter. Goldman Sachs Group Inc. owned about 3.67% of CenterState Banks worth $54,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of CenterState Banks by 20,548.4% in the 1st 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. Vanguard Group Inc. raised its position in shares of CenterState Banks by 7.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,231,489 shares of the financial services provider’s stock worth $55,474,000 after buying an additional 157,189 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CenterState Banks by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,998,123 shares of the financial services provider’s stock worth $51,752,000 after buying an additional 20,331 shares during the period. Channing Capital Management LLC raised its position in shares of CenterState Banks by 57.2% in the 2nd quarter. Channing Capital Management LLC now owns 1,900,665 shares of the financial services provider’s stock worth $47,251,000 after buying an additional 691,476 shares during the period. Finally, State Street Corp raised its position in shares of CenterState Banks by 20.8% in the 1st quarter. State Street Corp now owns 1,415,538 shares of the financial services provider’s stock worth $36,662,000 after buying an additional 243,569 shares during the period. 71.51% of the stock is currently owned by institutional investors and hedge funds.

In other CenterState Banks news, Director Charles W. Mcpherson acquired 3,600 shares of CenterState Banks stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $24.75 per share, with a total value of $89,100.00. Following the purchase, the director now owns 27,144 shares in the company, valued at $671,814. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael F. Ciferri acquired 4,500 shares of CenterState Banks stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average cost of $22.66 per share, with a total value of $101,970.00. Following the purchase, the director now owns 307,237 shares in the company, valued at approximately $6,961,990.42. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 11,100 shares of company stock valued at $260,040. 3.65% of the stock is owned by company insiders.

Several research analysts recently weighed in on CSFL shares. BidaskClub raised CenterState Banks from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. ValuEngine lowered CenterState Banks from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research raised CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Friday, July 28th. Brean Capital started coverage on CenterState Banks in a research report on Tuesday, August 29th. They issued a “hold” rating on the stock. Finally, Stephens set a $29.00 target price on CenterState Banks and gave the stock a “buy” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.33.

CenterState Banks, Inc. (NASDAQ CSFL) opened at 26.96 on Friday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.28 and a beta of 0.60. The company has a 50 day moving average price of $25.08 and a 200 day moving average price of $24.96. CenterState Banks, Inc. has a 12 month low of $17.72 and a 12 month high of $27.06.

CenterState Banks announced that its board has initiated a stock repurchase plan on Thursday, September 7th that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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CenterState Banks Company Profile

CenterState Bank Corporation, formerly 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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Institutional Ownership by Quarter for CenterState Banks (NASDAQ:CSFL)

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