Teacher Retirement System of Texas purchased a new stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,565 shares of the financial services provider’s stock, valued at approximately $529,000.
Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in Centerstate Bank by 74.5% in the fourth quarter. US Bancorp DE now owns 4,694 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 2,004 shares during the last quarter. Jane Street Group LLC acquired a new stake in Centerstate Bank in the 3rd quarter valued at about $218,000. BNP Paribas Arbitrage SA raised its holdings in Centerstate Bank by 50.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,500 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 2,838 shares during the last quarter. Commonwealth Equity Services Inc acquired a new stake in Centerstate Bank in the 3rd quarter valued at about $275,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Centerstate Bank in the 3rd quarter valued at approximately $319,000. 56.36% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Thomas E. Oakley sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $26.80, for a total value of $536,000.00. Following the sale, the director now directly owns 221,358 shares in the company, valued at approximately $5,932,394.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.35% of the stock is currently owned by company insiders.
Shares of Centerstate Bank stock traded down $0.26 on Thursday, hitting $27.49. 192,745 shares of the stock were exchanged, compared to its average volume of 774,828. Centerstate Bank Corp has a fifty-two week low of $25.03 and a fifty-two week high of $28.46. The firm has a market cap of $2,328.40 and a price-to-earnings ratio of 20.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.85 and a quick ratio of 0.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Centerstate Bank’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 14th. Centerstate Bank’s dividend payout ratio (DPR) is presently 31.50%.
Several research firms have recently weighed in on CSFL. SunTrust Banks began coverage on shares of Centerstate Bank in a research note on Tuesday, March 6th. They issued a “buy” rating and a $32.00 price target for the company. Brean Capital raised shares of Centerstate Bank to a “buy” rating and set a $31.00 price objective for the company in a research report on Thursday, February 1st. BidaskClub cut shares of Centerstate Bank from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Centerstate Bank from a “sell” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods raised shares of Centerstate Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Centerstate Bank has a consensus rating of “Hold” and an average target price of $30.00.
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Centerstate Bank Profile
CenterState Bank Corporation, formerly CenterState Banks, Inc, is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.
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