Centerstate Bank’s (CSFL) Buy Rating Reaffirmed at Stephens

Centerstate Bank (NASDAQ:CSFL)‘s stock had its “buy” rating restated by equities researchers at Stephens in a research report issued to clients and investors on Friday, March 29th, AnalystRatings.com reports. They currently have a $30.00 price target on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 22.80% from the company’s current price.

The analysts wrote, “We maintain our Overweight rating and continue to view the stock as our Best Idea for 2019.””

Several other equities research analysts also recently issued reports on CSFL. Zacks Investment Research downgraded Centerstate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. BidaskClub downgraded Centerstate Bank from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Finally, ValuEngine downgraded Centerstate Bank from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $28.40.

Shares of CSFL traded down $0.28 during trading hours on Friday, hitting $24.43. 611,468 shares of the stock traded hands, compared to its average volume of 778,825. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.20. Centerstate Bank has a 1-year low of $19.55 and a 1-year high of $32.27.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Centerstate Bank had a return on equity of 10.45% and a net margin of 27.64%. As a group, sell-side analysts predict that Centerstate Bank will post 2.1 EPS for the current year.

In other Centerstate Bank news, COO Stephen Dean Young sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 79,026 shares in the company, valued at approximately $2,014,372.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George Tierso Nunez II sold 15,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $26.16, for a total value of $392,400.00. Following the transaction, the director now owns 13,977 shares in the company, valued at approximately $365,638.32. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank bought a new position in shares of Centerstate Bank in the 4th quarter valued at $33,000. Private Capital Group LLC boosted its holdings in shares of Centerstate Bank by 194.6% during the 4th quarter. Private Capital Group LLC now owns 1,791 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,183 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in shares of Centerstate Bank during the 4th quarter valued at $38,000. Bremer Trust National Association acquired a new stake in shares of Centerstate Bank during the 4th quarter valued at $55,000. Finally, Bank of Montreal Can boosted its holdings in shares of Centerstate Bank by 29.6% during the 4th quarter. Bank of Montreal Can now owns 2,879 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 658 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.

About Centerstate Bank

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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