Seidman Lawrence B Decreases Holdings in Centerstate Bank Corp (CSFL)

Seidman Lawrence B cut its holdings in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 51.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,639 shares of the financial services provider’s stock after selling 72,982 shares during the quarter. Centerstate Bank accounts for approximately 1.6% of Seidman Lawrence B’s holdings, making the stock its 20th biggest holding. Seidman Lawrence B owned approximately 0.08% of Centerstate Bank worth $2,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. purchased a new position in shares of Centerstate Bank in the first quarter worth $128,000. Schwab Charles Investment Management Inc. increased its stake in shares of Centerstate Bank by 8.2% in 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 buying an additional 23,346 shares during the period. Principal Financial Group Inc. increased its stake in shares of Centerstate Bank by 36.9% in 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 buying an additional 274,718 shares during the period. Deutsche Bank AG increased its stake in shares of Centerstate Bank by 176.8% in the fourth quarter. Deutsche Bank AG now owns 147,426 shares of the financial services provider’s stock worth $3,791,000 after buying an additional 94,172 shares during the period. Finally, Swiss National Bank increased its stake in shares of Centerstate Bank by 2.2% in the first quarter. Swiss National Bank now owns 118,196 shares of the financial services provider’s stock worth $3,136,000 after buying an additional 2,600 shares during the period. 75.38% of the stock is currently owned by institutional investors.

Shares of Centerstate Bank stock opened at $30.03 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.24. Centerstate Bank Corp has a 12-month low of $25.03 and a 12-month high of $32.27.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, September 13th.

Several brokerages recently commented on CSFL. Brean Capital reaffirmed a “buy” rating on shares of Centerstate Bank in a research note on Monday, August 6th. BidaskClub raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Zacks Investment Research downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Stephens raised shares of Centerstate Bank from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $31.14.

In other Centerstate Bank news, insider Ernest S. Pinner sold 38,307 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $31.90, for a total transaction of $1,221,993.30. Following the transaction, the insider now directly owns 114,117 shares of the company’s stock, valued at approximately $3,640,332.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.35% of the stock is currently owned by insiders.

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 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.

Read More: What is a Leveraged Buyout (LBO)?

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

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