Centerstate Bank (NASDAQ:CSFL) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Centerstate Bank (NASDAQ:CSFL) from a sell rating to a hold rating in a report released on Wednesday, ValuEngine reports.

CSFL has been the topic of several other research reports. Zacks Investment Research raised shares of Centerstate Bank from a hold rating to a buy rating and set a $27.00 target price on the stock in a research report on Friday, January 10th. DA Davidson assumed coverage on shares of Centerstate Bank in a research note on Wednesday, October 9th. They issued a neutral rating and a $25.00 target price for the company. BidaskClub cut shares of Centerstate Bank from a sell rating to a strong sell rating in a research note on Saturday, January 4th. Finally, Stephens assumed coverage on shares of Centerstate Bank in a research note on Thursday, December 12th. They issued a buy rating and a $25.50 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $25.83.

Shares of NASDAQ:CSFL traded up $0.68 during trading hours on Wednesday, hitting $24.44. The company’s stock had a trading volume of 19,772 shares, compared to its average volume of 372,274. Centerstate Bank has a 52 week low of $21.57 and a 52 week high of $26.83. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $25.03 and its 200 day moving average price is $24.18.

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

In other Centerstate Bank news, Director James H. Bingham sold 3,900 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $26.55, for a total transaction of $103,545.00. Following the completion of the transaction, the director now directly owns 120,467 shares in the company, valued at $3,198,398.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.75% of the company’s stock.

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in Centerstate Bank by 1,148.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,248 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,148 shares during the period. First Mercantile Trust Co. raised 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 buying an additional 436 shares during the last quarter. Trustcore Financial Services LLC raised 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 buying an additional 3,630 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised 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 buying an additional 2,814 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Centerstate Bank in the second quarter valued at about $252,000. Institutional investors own 76.76% of the company’s stock.

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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