Swiss National Bank held its stake in CenterState Banks, Inc. (NASDAQ:CSFL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,696 shares of the financial services provider’s stock at the close of the 2nd quarter. Swiss National Bank owned about 0.14% of CenterState Banks worth $2,106,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Chicago Equity Partners LLC bought a new stake in shares of CenterState Banks during the 2nd quarter worth approximately $752,000. Principal Financial Group Inc. lifted its stake in shares of CenterState Banks by 102.1% during the 2nd quarter. Principal Financial Group Inc. now owns 745,043 shares of the financial services provider’s stock worth $18,522,000 after acquiring an additional 376,362 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CenterState Banks by 248.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,206 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 3,000 shares during the last quarter. Airain ltd bought a new stake in shares of CenterState Banks during the 2nd quarter worth approximately $269,000. Finally, Financial Advisory Group bought a new stake in shares of CenterState Banks during the 2nd quarter worth approximately $396,000. 71.51% of the stock is owned by hedge funds and other institutional investors.

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CSFL has been the subject of a number of research analyst reports. Stephens set a $29.00 price target on CenterState Banks and gave the stock a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research raised CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, July 28th. BidaskClub raised CenterState Banks from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $28.00 price target on shares of CenterState Banks in a research note on Tuesday. Finally, ValuEngine lowered CenterState Banks from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. CenterState Banks has an average rating of “Hold” and a consensus price target of $28.33.

In other CenterState Banks news, Director Michael F. Ciferri acquired 4,500 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average cost of $22.66 per share, for a total transaction of $101,970.00. Following the completion of the transaction, the director now owns 307,237 shares of the company’s stock, valued at approximately $6,961,990.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David G. Salyers acquired 2,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average price of $22.49 per share, with a total value of $44,980.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $67,470. The disclosure for this purchase can be found here. Insiders purchased 11,100 shares of company stock valued at $260,040 over the last quarter. 3.65% of the stock is currently owned by company insiders.

Shares of CenterState Banks, Inc. (NASDAQ CSFL) opened at 26.51 on Thursday. The company’s 50 day moving average price is $24.93 and its 200-day moving average price is $24.94. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.91 and a beta of 0.60. CenterState Banks, Inc. has a 52 week low of $17.72 and a 52 week high of $27.02.

CenterState Banks declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 7th that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

CenterState Banks 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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