Wesbanco Bank Inc. increased its stake in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 247.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,076 shares of the financial services provider’s stock after purchasing an additional 21,414 shares during the period. Wesbanco Bank Inc.’s holdings in Centerstate Bank were worth $633,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CSFL. Vanguard Group Inc raised its position in shares of Centerstate Bank by 48.9% during 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Centerstate Bank by 48.9% during 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 during the last quarter. Capital International Investors acquired a new position in shares of Centerstate Bank during the 3rd quarter worth approximately $37,594,000. Standard Life Aberdeen plc acquired a new position in shares of Centerstate Bank during the 3rd quarter worth approximately $35,370,000. Finally, Macquarie Group Ltd. raised its position in shares of Centerstate Bank by 62.9% during the 3rd quarter. Macquarie Group Ltd. now owns 1,848,258 shares of the financial services provider’s stock worth $51,844,000 after purchasing an additional 714,008 shares during the last quarter. Hedge funds and other institutional investors own 79.29% of the company’s stock.
In related news, Chairman Ernest S. Pinner acquired 1,425 shares of the stock in a transaction dated Wednesday, December 19th. The stock was bought at an average cost of $21.07 per share, with a total value of $30,024.75. Following the purchase, the chairman now directly owns 115,117 shares of the company’s stock, valued at $2,425,515.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles W. Mcpherson acquired 4,000 shares of the stock in a transaction dated Wednesday, November 28th. The shares were bought at an average cost of $24.97 per share, with a total value of $99,880.00. Following the completion of the purchase, the director now directly owns 33,437 shares in the company, valued at $834,921.89. The disclosure for this purchase can be found here. Insiders acquired a total of 13,225 shares of company stock valued at $303,655 over the last quarter. 2.35% of the stock is currently owned by insiders.
Several research analysts recently issued reports on the company. BidaskClub upgraded Centerstate Bank from a “hold” rating to a “buy” rating in a research report on Tuesday. ValuEngine upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a report on Tuesday, January 22nd. Finally, Raymond James upgraded Centerstate Bank from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a report on Monday, January 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Centerstate Bank presently has an average rating of “Buy” and a consensus target price of $28.50.
CSFL traded up $0.34 during trading on Tuesday, hitting $26.45. The company’s stock had a trading volume of 5,564 shares, compared to its average volume of 609,777. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. Centerstate Bank Corp has a twelve month low of $19.55 and a twelve month high of $32.27.
Centerstate Bank (NASDAQ:CSFL) last issued its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Centerstate Bank had a return on equity of 9.02% and a net margin of 22.11%. As a group, equities research analysts anticipate that Centerstate Bank Corp will post 2.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.11 dividend. The ex-dividend date is Thursday, March 14th. This is an increase from Centerstate Bank’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.66%.
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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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