Bank of New York Mellon Corp cut its position in shares of CenterState Banks Inc. (NASDAQ:CSFL) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 419,900 shares of the financial services provider’s stock after selling 742 shares during the period. Bank of New York Mellon Corp owned about 0.87% of CenterState Banks worth $6,613,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in CSFL. Northpointe Capital LLC increased its stake in shares of CenterState Banks by 217.3% in the second quarter. Northpointe Capital LLC now owns 619,990 shares of the financial services provider’s stock worth $9,765,000 after buying an additional 424,621 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of CenterState Banks during the second quarter worth about $5,878,000. Clover Partners L.P. increased its stake in shares of CenterState Banks by 434.2% in the first quarter. Clover Partners L.P. now owns 200,334 shares of the financial services provider’s stock worth $2,983,000 after buying an additional 162,834 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of CenterState Banks by 73.0% in the first quarter. Panagora Asset Management Inc. now owns 311,605 shares of the financial services provider’s stock worth $4,640,000 after buying an additional 131,478 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of CenterState Banks by 311.7% in the first quarter. Fisher Asset Management LLC now owns 142,037 shares of the financial services provider’s stock worth $2,220,000 after buying an additional 107,539 shares in the last quarter. Institutional investors own 71.94% of the company’s stock.
CenterState Banks Inc. (NASDAQ:CSFL) traded up 1.25% during trading on Tuesday, hitting $17.77. 100,591 shares of the company were exchanged. CenterState Banks Inc. has a 12 month low of $12.57 and a 12 month high of $18.27. The company has a 50-day moving average of $17.46 and a 200-day moving average of $16.05. The company has a market capitalization of $853.05 million, a price-to-earnings ratio of 26.68 and a beta of 0.80.
CenterState Banks (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. CenterState Banks had a net margin of 14.11% and a return on equity of 7.61%. Analysts forecast that CenterState Banks Inc. will post $1.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, September 13th. CenterState Banks’s dividend payout ratio is currently 23.88%.
A number of brokerages have recently issued reports on CSFL. Zacks Investment Research downgraded shares of CenterState Banks from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Keefe, Bruyette & Woods raised their price target on shares of CenterState Banks from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Finally, Stephens began coverage on shares of CenterState Banks in a report on Wednesday, May 25th. They set an “equal weight” rating and a $17.50 price target for the company. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $17.88.
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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