Centerstate Bank (NASDAQ:CSFL) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

CSFL has been the topic of several other reports. Zacks Investment Research downgraded Centerstate Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Stephens restated a “buy” rating and issued a $30.00 price objective on shares of Centerstate Bank in a research report on Monday, November 26th. Brean Capital restated a “buy” rating on shares of Centerstate Bank in a research report on Tuesday, January 22nd. Finally, Sandler O’Neill upgraded Centerstate Bank from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Tuesday, November 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Centerstate Bank currently has an average rating of “Buy” and a consensus price target of $28.50.

Shares of NASDAQ:CSFL opened at $26.11 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. Centerstate Bank has a 52-week low of $19.55 and a 52-week high of $32.27.

Centerstate Bank (NASDAQ:CSFL) last issued its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Centerstate Bank had a return on equity of 9.02% and a net margin of 22.11%. As a group, research analysts anticipate that Centerstate Bank will post 2.05 earnings per share for the current year.

In other Centerstate Bank news, Director Charles W. Mcpherson bought 4,000 shares of Centerstate Bank stock in a transaction that occurred on Wednesday, November 28th. The shares were purchased at an average cost of $24.97 per share, for a total transaction of $99,880.00. Following the completion of the transaction, the director now owns 33,437 shares of the company’s stock, valued at approximately $834,921.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ernest S. Pinner bought 1,425 shares of Centerstate Bank stock in a transaction that occurred on Wednesday, December 19th. The shares were acquired at an average price of $21.07 per share, for a total transaction of $30,024.75. Following the completion of the transaction, the chairman now directly owns 115,117 shares of the company’s stock, valued at approximately $2,425,515.19. The disclosure for this purchase can be found here. Insiders have purchased 13,225 shares of company stock worth $303,655 over the last quarter. 2.35% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank purchased a new position in Centerstate Bank during the fourth quarter worth about $33,000. Private Capital Group LLC lifted its position in Centerstate Bank by 194.6% during the fourth quarter. Private Capital Group LLC now owns 1,791 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,183 shares during the period. Trustcore Financial Services LLC purchased a new position in Centerstate Bank during the fourth quarter worth about $38,000. Bremer Trust National Association purchased a new position in Centerstate Bank during the fourth quarter worth about $55,000. Finally, Bank of Montreal Can lifted its position in Centerstate Bank by 29.6% during the fourth quarter. Bank of Montreal Can now owns 2,879 shares of the financial services provider’s stock worth $61,000 after buying an additional 658 shares during the period. Hedge funds and other institutional investors own 79.29% of the company’s stock.

About Centerstate Bank

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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Analyst Recommendations for Centerstate Bank (NASDAQ:CSFL)

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