Connor Clark & Lunn Investment Management Ltd. purchased a new position in Centerstate Bank Corp (NASDAQ:CSFL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,150 shares of the financial services provider’s stock, valued at approximately $601,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Centerstate Bank during the first quarter worth $128,000. Principal Financial Group Inc. lifted its position in shares of Centerstate Bank by 36.9% during the first quarter. Principal Financial Group Inc. now owns 1,018,647 shares of the financial services provider’s stock worth $27,024,000 after purchasing an additional 274,718 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Centerstate Bank by 8.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 308,647 shares of the financial services provider’s stock worth $8,189,000 after purchasing an additional 23,346 shares during the last quarter. Seidman Lawrence B bought a new stake in shares of Centerstate Bank during the first quarter worth $3,784,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Centerstate Bank during the first quarter worth $191,000. Institutional investors own 75.38% of the company’s stock.

CSFL stock opened at $30.31 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.87. Centerstate Bank Corp has a 1-year low of $25.03 and a 1-year high of $32.27.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Centerstate Bank had a return on equity of 8.96% and a net margin of 21.38%. sell-side analysts predict that Centerstate Bank Corp will post 2.12 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.32%.

Several research firms have recently weighed in on CSFL. Zacks Investment Research downgraded Centerstate Bank from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. BidaskClub upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a research report on Monday, August 6th. Finally, Raymond James downgraded Centerstate Bank from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Tuesday, May 29th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.14.

In related news, insider Ernest S. Pinner sold 38,307 shares of Centerstate Bank stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $31.90, for a total value of $1,221,993.30. Following the completion of the sale, the insider now directly owns 114,117 shares in the company, valued at $3,640,332.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.35% of the company’s stock.

Centerstate Bank Profile

CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

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Institutional Ownership by Quarter for Centerstate Bank (NASDAQ:CSFL)

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