Dynamic Technology Lab Private Ltd acquired a new position in CenterState Banks, Inc. (NASDAQ:CSFL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,839 shares of the financial services provider’s stock, valued at approximately $642,000.

Several other institutional investors have also recently modified their holdings of CSFL. Bank of America Corp DE boosted its stake in CenterState Banks by 225.3% in the 1st quarter. Bank of America Corp DE now owns 69,611 shares of the financial services provider’s stock worth $1,803,000 after purchasing an additional 48,215 shares in the last quarter. BlackRock Inc. boosted its stake in CenterState Banks by 20,548.4% in the 1st quarter. BlackRock Inc. now owns 3,504,246 shares of the financial services provider’s stock worth $90,760,000 after purchasing an additional 3,487,275 shares in the last quarter. Menta Capital LLC acquired a new stake in CenterState Banks in the 1st quarter worth approximately $785,000. Swiss National Bank boosted its stake in CenterState Banks by 10.4% in the 1st quarter. Swiss National Bank now owns 84,696 shares of the financial services provider’s stock worth $2,194,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in CenterState Banks by 42.5% in the 2nd quarter. Rothschild Asset Management Inc. now owns 442,458 shares of the financial services provider’s stock worth $11,000,000 after purchasing an additional 132,065 shares in the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts recently commented on the stock. BidaskClub cut shares of CenterState Banks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of CenterState Banks from a “hold” rating to a “sell” rating in a research note on Tuesday. Stephens set a $29.00 target price on shares of CenterState Banks and gave the stock a “buy” rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $28.00 target price on shares of CenterState Banks in a research note on Tuesday, October 3rd. Finally, Brean Capital assumed coverage on shares of CenterState Banks in a research note on Tuesday, August 29th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. CenterState Banks has an average rating of “Hold” and an average target price of $28.33.

In related news, Director Charles W. Mcpherson purchased 3,600 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $24.75 per share, for a total transaction of $89,100.00. Following the completion of the purchase, the director now directly owns 27,144 shares of the company’s stock, valued at approximately $671,814. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David G. Salyers purchased 2,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was bought at an average price of $22.49 per share, for a total transaction of $44,980.00. Following the completion of the purchase, 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 acquired 11,100 shares of company stock worth $260,040 over the last quarter. 3.65% of the stock is currently owned by insiders.

Shares of CenterState Banks, Inc. (NASDAQ:CSFL) opened at 27.58 on Friday. The company has a 50-day moving average of $25.75 and a 200-day moving average of $25.09. CenterState Banks, Inc. has a 1-year low of $17.72 and a 1-year high of $27.65. The firm has a market capitalization of $1.66 billion, a PE ratio of 22.79 and a beta of 0.60.

CenterState Banks declared that its Board of Directors has approved a stock buyback plan on Thursday, September 7th that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

CenterState Banks Company Profile

CenterState Bank Corporation, formerly 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.

Institutional Ownership by Quarter for CenterState Banks (NASDAQ:CSFL)

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