Centerstate Bank (NASDAQ:CSFL) Downgraded by BidaskClub to Strong Sell

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BidaskClub lowered shares of Centerstate Bank (NASDAQ:CSFL) from a sell rating to a strong sell rating in a research note released on Saturday, BidAskClub reports.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Centerstate Bank from a sell rating to a hold rating in a report on Monday, November 11th. ValuEngine cut shares of Centerstate Bank from a hold rating to a sell rating in a report on Friday, December 13th. DA Davidson began coverage on shares of Centerstate Bank in a report on Wednesday, October 9th. They set a neutral rating and a $25.00 price target for the company. Finally, Stephens began coverage on shares of Centerstate Bank in a report on Thursday, December 12th. They set a buy rating and a $25.50 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Centerstate Bank currently has a consensus rating of Hold and a consensus target price of $25.88.

NASDAQ CSFL traded down $0.14 during trading hours on Friday, hitting $24.77. 410,948 shares of the stock were exchanged, compared to its average volume of 381,329. Centerstate Bank has a 12-month low of $21.28 and a 12-month high of $26.83. The stock has a 50-day moving average of $25.35 and a 200 day moving average of $24.09. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $203.44 million during the quarter, compared to analysts’ expectations of $195.30 million. Centerstate Bank had a net margin of 26.20% and a return on equity of 9.63%. Equities research analysts expect that Centerstate Bank will post 2.07 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.44 dividend on an annualized basis and a yield of 1.78%.

In other Centerstate Bank news, Director James H. Bingham sold 3,900 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $26.55, for a total value of $103,545.00. Following the completion of the transaction, the director now directly owns 120,467 shares of the company’s stock, valued at $3,198,398.85. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.75% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in Centerstate Bank by 1,148.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,248 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,148 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Centerstate Bank in the second quarter valued at approximately $79,000. First Mercantile Trust Co. grew its position in shares of Centerstate Bank by 11.6% in the third quarter. First Mercantile Trust Co. now owns 4,197 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 436 shares during the last quarter. Trustcore Financial Services LLC grew its position in shares of Centerstate Bank by 201.7% in the third quarter. Trustcore Financial Services LLC now owns 5,430 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 3,630 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Centerstate Bank by 43.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,318 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 2,814 shares during the last quarter. 76.76% of the stock is owned by institutional investors.

Centerstate Bank Company 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. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

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