Centerstate Bank Corp (CSFL) Short Interest Update

Centerstate Bank Corp (NASDAQ:CSFL) was the recipient of a significant growth in short interest during the month of September. As of September 28th, there was short interest totalling 2,506,992 shares, a growth of 72.3% from the September 14th total of 1,455,098 shares. Based on an average daily trading volume, of 1,118,196 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.7% of the company’s stock are short sold.

A number of research analysts have recently issued reports on the stock. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a report on Tuesday, July 10th. BidaskClub cut shares of Centerstate Bank from a “buy” rating to a “hold” rating in a report on Friday, July 13th. Finally, Zacks Investment Research cut shares of Centerstate Bank from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $31.43.

In other news, Director James H. Bingham sold 2,500 shares of Centerstate Bank stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $30.50, for a total transaction of $76,250.00. Following the completion of the transaction, the director now directly owns 120,573 shares in the company, valued at $3,677,476.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.35% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Mount Yale Investment Advisors LLC purchased a new position in Centerstate Bank during the first quarter worth about $117,000. Zeke Capital Advisors LLC purchased a new position in Centerstate Bank during the second quarter worth about $205,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Centerstate Bank during the second quarter worth about $208,000. Amalgamated Bank purchased a new position in Centerstate Bank during the first quarter worth about $211,000. Finally, BB&T Securities LLC purchased a new position in Centerstate Bank during the second quarter worth about $213,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Centerstate Bank stock opened at $25.82 on Friday. Centerstate Bank has a fifty-two week low of $24.96 and a fifty-two week high of $32.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.87.

Centerstate Bank (NASDAQ:CSFL) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Centerstate Bank had a net margin of 21.38% and a return on equity of 8.96%. The business had revenue of $123.12 million for the quarter, compared to analysts’ expectations of $118.87 million. On average, equities research analysts expect that Centerstate Bank will post 2.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, September 13th.

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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