Alps Advisors Inc. cut its position in shares of CenterState Banks Inc. (NASDAQ:CSFL) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 26,555 shares of the financial services provider’s stock after selling 1,952 shares during the period. Alps Advisors Inc.’s holdings in CenterState Banks were worth $418,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Prudential Financial Inc. boosted its stake in shares of CenterState Banks by 0.4% in the first quarter. Prudential Financial Inc. now owns 25,975 shares of the financial services provider’s stock worth $387,000 after buying an additional 100 shares during the period. Menta Capital LLC raised its position in CenterState Banks by 4.6% in the first quarter. Menta Capital LLC now owns 56,271 shares of the financial services provider’s stock worth $838,000 after buying an additional 2,500 shares in the last quarter. Royce & Associates LP raised its position in CenterState Banks by 0.9% in the first quarter. Royce & Associates LP now owns 484,641 shares of the financial services provider’s stock worth $7,216,000 after buying an additional 4,500 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in CenterState Banks by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,317,762 shares of the financial services provider’s stock worth $19,621,000 after buying an additional 9,258 shares in the last quarter. Finally, Huntington Asset Advisors Inc. bought a new position in CenterState Banks during the first quarter worth $161,000. 71.94% of the stock is owned by hedge funds and other institutional investors.
Shares of CenterState Banks Inc. (NASDAQ:CSFL) traded down 0.06% during mid-day trading on Friday, reaching $18.05. The company had a trading volume of 141,501 shares. CenterState Banks Inc. has a one year low of $12.57 and a one year high of $18.27. The company has a 50 day moving average price of $17.79 and a 200 day moving average price of $16.32. The company has a market capitalization of $866.49 million, a price-to-earnings ratio of 27.10 and a beta of 0.70.
CenterState Banks (NASDAQ:CSFL) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. CenterState Banks had a return on equity of 7.61% and a net margin of 14.11%. On average, analysts anticipate that CenterState Banks Inc. will post $1.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Tuesday, September 13th. CenterState Banks’s payout ratio is 23.88%.
A number of research analysts have recently weighed in on the company. Stephens upgraded CenterState Banks from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Wednesday, September 28th. Zacks Investment Research lowered CenterState Banks from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods raised their target price on CenterState Banks from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th.
About CenterState Banks
CenterState Banks, Inc (CSFL) is a bank holding company, which owns CenterState Bank of Florida, N.A. (CSB or the Bank) and a non-bank subsidiary, R4ALL, Inc (R4ALL). The Company’s basic services include demand interest-bearing and noninterest-bearing accounts, money market deposit accounts, time deposits, safe deposit services, cash management, direct deposits, notary services, money orders, night depository, travelers’ checks, cashier’s checks, domestic collections, savings bonds, bank drafts, automated teller services, drive-in tellers, and banking by mail and by Internet.
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