Oberweis Asset Management Inc. Decreases Stake in Centerstate Bank Corp (CSFL)

Oberweis Asset Management Inc. cut its holdings in Centerstate Bank Corp (NASDAQ:CSFL) by 16.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 90,254 shares of the financial services provider’s stock after selling 18,388 shares during the period. Oberweis Asset Management Inc. owned about 0.09% of Centerstate Bank worth $1,899,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank acquired a new position in shares of Centerstate Bank in the 4th quarter valued at about $33,000. Private Capital Group LLC lifted its position in Centerstate Bank by 194.6% in the 4th quarter. Private Capital Group LLC now owns 1,791 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,183 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in Centerstate Bank in the 4th quarter valued at about $38,000. Bremer Trust National Association bought a new stake in Centerstate Bank in the 4th quarter valued at about $55,000. Finally, Bank of Montreal Can lifted its position in Centerstate Bank by 29.6% in the 4th quarter. Bank of Montreal Can now owns 2,879 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 658 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Shares of CSFL stock traded up $0.10 during midday trading on Friday, reaching $25.68. 255,016 shares of the company were exchanged, compared to its average volume of 544,524. Centerstate Bank Corp has a 12 month low of $19.55 and a 12 month high of $32.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.88 and a current ratio of 0.88.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Centerstate Bank had a net margin of 27.64% and a return on equity of 10.45%. Equities analysts anticipate that Centerstate Bank Corp will post 2.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Centerstate Bank’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 14th.

In other Centerstate Bank news, Chairman Ernest S. Pinner bought 1,425 shares of the company’s stock in a transaction that occurred on Wednesday, December 19th. The shares were acquired at an average cost of $21.07 per share, for a total transaction of $30,024.75. Following the acquisition, the chairman now directly owns 115,117 shares of the company’s stock, valued at $2,425,515.19. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Stephen Dean Young sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $25.49, for a total transaction of $637,250.00. Following the completion of the sale, the chief operating officer now owns 79,026 shares in the company, valued at $2,014,372.74. The disclosure for this sale can be found here. 2.35% of the stock is currently owned by insiders.

Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Centerstate Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. BidaskClub upgraded shares of Centerstate Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.80.

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

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