Advisors Asset Management Inc. Has $287,000 Position in CenterState Banks Inc. (CSFL)
Advisors Asset Management Inc. reduced its position in shares of CenterState Banks Inc. (NASDAQ:CSFL) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,245 shares of the financial services provider’s stock after selling 446 shares during the period. Advisors Asset Management Inc.’s holdings in CenterState Banks were worth $287,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in CenterState Banks by 0.4% in the first quarter. Prudential Financial Inc. now owns 25,975 shares of the financial services provider’s stock worth $387,000 after buying an additional 100 shares during the period. California Public Employees Retirement System increased its position in CenterState Banks by 0.7% in the second quarter. California Public Employees Retirement System now owns 112,200 shares of the financial services provider’s stock worth $1,767,000 after buying an additional 800 shares during the period. California State Teachers Retirement System increased its position in CenterState Banks by 1.0% in the second quarter. California State Teachers Retirement System now owns 97,253 shares of the financial services provider’s stock worth $1,532,000 after buying an additional 983 shares during the period. Menta Capital LLC increased its position in CenterState Banks by 4.6% in the first quarter. Menta Capital LLC now owns 56,271 shares of the financial services provider’s stock worth $838,000 after buying an additional 2,500 shares during the period. Finally, First Trust Advisors LP increased its position in CenterState Banks by 5.0% in the second quarter. First Trust Advisors LP now owns 72,241 shares of the financial services provider’s stock worth $1,138,000 after buying an additional 3,455 shares during the period. 71.94% of the stock is owned by institutional investors and hedge funds.
Shares of CenterState Banks Inc. (NASDAQ:CSFL) traded up 1.03% on Friday, reaching $17.73. The company’s stock had a trading volume of 222,523 shares. CenterState Banks Inc. has a 12 month low of $12.57 and a 12 month high of $18.27. The stock has a market cap of $851.13 million, a P/E ratio of 26.62 and a beta of 0.80. The firm’s 50-day moving average price is $17.74 and its 200-day moving average price is $16.22.
CenterState Banks (NASDAQ:CSFL) last posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. CenterState Banks had a return on equity of 7.61% and a net margin of 14.11%. On average, analysts forecast that CenterState Banks Inc. will post $1.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.16 annualized dividend and a dividend yield of 0.90%. CenterState Banks’s payout ratio is 23.88%.
A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on CenterState Banks from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded CenterState Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, Stephens raised CenterState Banks from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.50.
CenterState Banks Company Profile
CenterState Banks, Inc (CSFL) is a bank holding company, which owns CenterState Bank of Florida, N.A. (CSB or the Bank) and a non-bank subsidiary, R4ALL, Inc (R4ALL). The Company’s basic services include demand interest-bearing and noninterest-bearing accounts, money market deposit accounts, time deposits, safe deposit services, cash management, direct deposits, notary services, money orders, night depository, travelers’ checks, cashier’s checks, domestic collections, savings bonds, bank drafts, automated teller services, drive-in tellers, and banking by mail and by Internet.
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