CenterState Banks, Inc. (NASDAQ:CSFL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Zacks Investment Research raised CenterState Banks from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, June 8th.

CenterState Banks (NASDAQ CSFL) opened at 23.93 on Friday. CenterState Banks has a 1-year low of $16.96 and a 1-year high of $26.94. The firm has a 50-day moving average price of $24.93 and a 200-day moving average price of $25.00. The company has a market capitalization of $1.44 billion, a P/E ratio of 19.78 and a beta of 0.60.

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Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 in the last quarter. Vanguard Group Inc. raised its position in shares of CenterState Banks by 7.6% in the second quarter. Vanguard Group Inc. now owns 2,231,489 shares of the financial services provider’s stock valued at $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 first quarter. Dimensional Fund Advisors LP now owns 1,998,123 shares of the financial services provider’s stock valued at $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 second quarter. Channing Capital Management LLC now owns 1,900,665 shares of the financial services provider’s stock valued at $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 first quarter. State Street Corp now owns 1,415,538 shares of the financial services provider’s stock valued at $36,662,000 after buying an additional 243,569 shares during the period. 68.42% of the stock is owned by institutional investors.

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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