Somewhat Favorable Press Coverage Somewhat Unlikely to Impact CenterState Banks (CSFL) Stock Price
Media stories about CenterState Banks (NASDAQ:CSFL) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. CenterState Banks earned a news sentiment score of 0.05 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.0512725796329 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- CenterState Banks, Inc. (CSFL) Short Interest Up 35.5% in August (americanbankingnews.com)
- CenterState Banks, Inc. :CSFL-US: Earnings Analysis: Q2, 2017 By the Numbers : September 15, 2017 (finance.yahoo.com)
- CenterState Bank (CSFL) Shares Cross Above 200 DMA (nasdaq.com)
- CenterState Banks, Inc. breached its 50 day moving average in a Bullish Manner : CSFL-US : September 14, 2017 (finance.yahoo.com)
- CenterState Banks, Inc. (CSFL) Director Michael F. Ciferri Purchases 4,500 Shares (americanbankingnews.com)
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of CenterState Banks from a “sell” rating to a “hold” rating in a report on Sunday, August 6th. Brean Capital assumed coverage on shares of CenterState Banks in a report on Tuesday, August 29th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of CenterState Banks from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, July 28th. Stephens set a $29.00 price objective on shares of CenterState Banks and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, ValuEngine downgraded shares of CenterState Banks from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. CenterState Banks presently has an average rating of “Hold” and an average price target of $28.50.
CenterState Banks (NASDAQ CSFL) traded up 0.04% during trading on Friday, reaching $24.94. 872,930 shares of the company’s stock were exchanged. The stock has a market cap of $1.50 billion, a PE ratio of 20.44 and a beta of 0.60. CenterState Banks has a 12 month low of $17.09 and a 12 month high of $26.94. The firm has a 50 day moving average of $24.53 and a 200-day moving average of $24.89.
CenterState Banks declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 7th that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Charles W. Mcpherson purchased 3,600 shares of CenterState Banks stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $24.75 per share, for a total transaction of $89,100.00. Following the completion of the acquisition, the director now directly owns 27,144 shares of the company’s stock, valued at $671,814. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David G. Salyers purchased 2,000 shares of CenterState Banks stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of $22.49 per share, with a total value of $44,980.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $67,470. The disclosure for this purchase can be found here. Insiders have bought 11,100 shares of company stock valued at $260,040 over the last 90 days. Corporate insiders own 3.65% of the company’s stock.
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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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