Somewhat Favorable Media Coverage Somewhat Unlikely to Affect CenterState Banks (CSFL) Share Price
News stories about CenterState Banks (NASDAQ:CSFL) have been trending somewhat positive on Friday, Accern reports. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. CenterState Banks earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 45.9673087961911 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
CenterState Banks (NASDAQ CSFL) opened at $25.77 on Friday. CenterState Banks has a 52-week low of $21.28 and a 52-week high of $27.78. The company has a market capitalization of $1,557.98, a price-to-earnings ratio of 18.65 and a beta of 0.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.85.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.93%. CenterState Banks’s dividend payout ratio is currently 12.60%.
CenterState Banks declared that its board has approved a stock repurchase program on Thursday, September 7th that permits the company to buyback 3,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several research analysts recently weighed in on the company. Stephens lowered CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective for the company. in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $29.00 price objective on shares of CenterState Banks in a research report on Thursday, October 26th. Zacks Investment Research lowered CenterState Banks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Brean Capital reiterated a “hold” rating on shares of CenterState Banks in a research report on Monday, October 30th. Finally, BidaskClub upgraded CenterState Banks from a “sell” rating to a “hold” rating in a research report on Sunday, August 6th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.33.
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In other news, Director David G. Salyers purchased 2,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $22.49 per share, for a total transaction of $44,980.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $67,470. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jennifer Idell sold 2,351 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.00, for a total value of $63,477.00. Following the transaction, the chief financial officer now owns 9,053 shares of the company’s stock, valued at $244,431. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 7,500 shares of company stock valued at $170,940. Company insiders own 3.65% of the company’s stock.
About CenterState Banks
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.
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