CenterState Banks Inc. (CSFL) Sees Large Volume Increase
CenterState Banks Inc. (NASDAQ:CSFL) shares saw unusually-high trading volume on Friday . Approximately 278,194 shares traded hands during trading, an increase of 90% from the previous session’s volume of 146,110 shares.The stock last traded at $16.76 and had previously closed at $16.67.
CSFL has been the subject of several recent analyst reports. Zacks Investment Research upgraded CenterState Banks from a “sell” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, April 29th. Stephens initiated coverage on CenterState Banks in a research note on Wednesday, May 25th. They set an “equal weight” rating and a $17.50 target price for the company. Keefe, Bruyette & Woods raised their target price on CenterState Banks from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, FIG Partners downgraded CenterState Banks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.88.
The stock has a market capitalization of $799.60 million and a price-to-earnings ratio of 25.02. The company has a 50-day moving average price of $15.83 and a 200-day moving average price of $15.17.
CenterState Banks (NASDAQ:CSFL) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Analysts anticipate that CenterState Banks Inc. will post $1.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, June 13th.
Several large investors recently modified their holdings of CSFL. California State Teachers Retirement System raised its stake in shares of CenterState Banks by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 84,192 shares of the financial services provider’s stock worth $1,318,000 after buying an additional 1,298 shares during the period. New York State Common Retirement Fund raised its stake in shares of CenterState Banks by 11.5% in the fourth quarter. New York State Common Retirement Fund now owns 89,941 shares of the financial services provider’s stock worth $1,408,000 after buying an additional 9,284 shares during the period. California Public Employees Retirement System raised its stake in shares of CenterState Banks by 24.7% in the fourth quarter. California Public Employees Retirement System now owns 125,800 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 24,900 shares during the period. First Trust Advisors LP raised its stake in CenterState Banks by 49.0% in the fourth quarter. First Trust Advisors LP now owns 81,022 shares of the financial services provider’s stock valued at $1,268,000 after buying an additional 26,630 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in CenterState Banks by 398.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 154,673 shares of the financial services provider’s stock valued at $2,422,000 after buying an additional 123,658 shares during the last quarter.
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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