Osborn Williams & Donohoe LLC acquired a new stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the financial services provider’s stock, valued at approximately $49,000.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc lifted its stake in Centerstate Bank by 48.9% in the third 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 during the last quarter. Vanguard Group Inc. raised its stake in shares of Centerstate Bank by 48.9% during the third quarter. Vanguard Group Inc. now owns 7,591,063 shares of the financial services provider’s stock valued at $212,931,000 after acquiring an additional 2,494,350 shares in the last quarter. Standard Life Aberdeen plc bought a new stake in shares of Centerstate Bank during the third quarter valued at approximately $35,370,000. Norges Bank bought a new stake in shares of Centerstate Bank during the fourth quarter valued at approximately $16,599,000. Finally, BlackRock Inc. raised its stake in shares of Centerstate Bank by 12.7% during the fourth quarter. BlackRock Inc. now owns 6,591,107 shares of the financial services provider’s stock valued at $138,679,000 after acquiring an additional 745,027 shares in the last quarter. Hedge funds and other institutional investors own 61.43% of the company’s stock.
In related news, COO Stephen Dean Young sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $25.49, for a total transaction of $637,250.00. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Tierso Nunez II sold 15,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $26.16, for a total transaction of $392,400.00. Following the transaction, the director now owns 13,977 shares of the company’s stock, valued at approximately $365,638.32. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.
Several brokerages recently issued reports on CSFL. Zacks Investment Research lowered shares of Centerstate Bank from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. BidaskClub raised shares of Centerstate Bank from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Finally, ValuEngine raised shares of Centerstate Bank from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.40.
Shares of CSFL traded up $0.35 during trading hours on Wednesday, reaching $22.77. 640,807 shares of the company traded hands, compared to its average volume of 637,774. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.91 and a quick ratio of 0.91. Centerstate Bank Corp has a 12-month low of $19.55 and a 12-month high of $32.11.
Centerstate Bank (NASDAQ:CSFL) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $143.48 million for the quarter, compared to analyst estimates of $142.80 million. Centerstate Bank had a net margin of 27.51% and a return on equity of 10.11%. As a group, equities research analysts predict that Centerstate Bank Corp will post 2.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.93%.
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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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