Centerstate Bank Corp (NASDAQ:CSFL) – Analysts at SunTrust Banks lifted their Q1 2019 earnings per share estimates for Centerstate Bank in a report released on Monday, December 3rd. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings per share of $0.54 for the quarter, up from their prior estimate of $0.53.
Several other analysts have also recently issued reports on the company. BidaskClub cut Centerstate Bank from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. Brean Capital reaffirmed a “buy” rating on shares of Centerstate Bank in a research report on Monday, October 22nd. Sandler O’Neill cut Centerstate Bank from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Wednesday, September 12th. ValuEngine cut Centerstate Bank from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, Stephens reaffirmed a “buy” rating and set a $30.00 target price on shares of Centerstate Bank in a research report on Monday, November 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.50.
Shares of NASDAQ CSFL opened at $23.43 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 16.87 and a beta of 0.56. Centerstate Bank has a 12-month low of $22.64 and a 12-month high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $128.96 million for the quarter, compared to the consensus estimate of $125.03 million. Centerstate Bank had a return on equity of 9.02% and a net margin of 22.11%.
Several institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in shares of Centerstate Bank in the 3rd quarter worth $1,352,000. Marshall Wace LLP acquired a new stake in shares of Centerstate Bank in the 3rd quarter worth $447,000. Vanguard Group Inc. boosted its position in shares of Centerstate Bank by 48.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,591,063 shares of the financial services provider’s stock worth $212,931,000 after purchasing an additional 2,494,350 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Centerstate Bank by 166.5% in the 3rd quarter. Legal & General Group Plc now owns 34,760 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 21,717 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in shares of Centerstate Bank by 1,290.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 184,265 shares of the financial services provider’s stock worth $6,569,000 after purchasing an additional 171,013 shares in the last quarter. 79.17% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.40 annualized dividend and a yield of 1.71%.
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.
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