CenterState Banks, Inc. (CSFL) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of CenterState Banks, Inc. (NASDAQ:CSFL) from a sell rating to a hold rating in a research note published on Sunday morning.
Separately, Zacks Investment Research raised CenterState Banks from a hold rating to a buy rating and set a $28.00 price objective for the company in a research report on Friday, July 28th.
CenterState Banks (NASDAQ CSFL) opened at 25.26 on Friday. The stock’s 50 day moving average is $24.92 and its 200 day moving average is $24.99. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 20.88 and a beta of 0.60. CenterState Banks has a one year low of $16.58 and a one year high of $26.94.
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Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 last quarter. Channing Capital Management LLC purchased a new stake in CenterState Banks during the first quarter valued at $31,318,000. Goldman Sachs Group Inc. boosted its stake in CenterState Banks by 66.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,415,244 shares of the financial services provider’s stock valued at $36,655,000 after buying an additional 565,558 shares during the last quarter. Principal Financial Group Inc. boosted its stake in CenterState Banks by 102.1% in the second quarter. Principal Financial Group Inc. now owns 745,043 shares of the financial services provider’s stock valued at $18,522,000 after buying an additional 376,362 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in CenterState Banks during the first quarter valued at $8,680,000. 68.42% of the stock is owned by institutional investors and hedge funds.
About CenterState Banks
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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