Zurcher Kantonalbank Zurich Cantonalbank Purchases 828 Shares of Centerstate Bank Corp (NASDAQ:CSFL)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Centerstate Bank Corp (NASDAQ:CSFL) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,722 shares of the financial services provider’s stock after purchasing an additional 828 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Centerstate Bank were worth $150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSFL. Oppenheimer Asset Management Inc. lifted its stake in Centerstate Bank by 12.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 4,170 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 462 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new position in Centerstate Bank during the 4th quarter valued at $146,000. Great Lakes Advisors LLC bought a new position in Centerstate Bank during the 4th quarter valued at $204,000. Great West Life Assurance Co. Can bought a new position in Centerstate Bank during the 4th quarter valued at $212,000. Finally, PNC Financial Services Group Inc. lifted its stake in Centerstate Bank by 477.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,765 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 7,248 shares in the last quarter. Institutional investors own 74.60% of the company’s stock.

In other news, General Counsel Beth S. Desimone acquired 2,700 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $14.53 per share, with a total value of $39,231.00. Also, CEO John C. Corbett acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $17.90 per share, with a total value of $89,500.00. Following the acquisition, the chief executive officer now owns 107,688 shares in the company, valued at approximately $1,927,615.20. The disclosure for this purchase can be found here. In the last three months, insiders purchased 40,357 shares of company stock valued at $601,223. 2.25% of the stock is currently owned by insiders.

Several equities analysts have weighed in on the company. Zacks Investment Research cut Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Monday, March 23rd. TheStreet cut Centerstate Bank from a “b-” rating to a “c+” rating in a research note on Monday, March 9th. ValuEngine cut Centerstate Bank from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, BidaskClub upgraded Centerstate Bank from a “strong sell” rating to a “sell” rating in a research note on Friday. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $25.50.

NASDAQ CSFL opened at $16.12 on Friday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 8.94 and a beta of 0.94. Centerstate Bank Corp has a one year low of $12.10 and a one year high of $26.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.88. The business’s fifty day moving average is $15.47 and its 200-day moving average is $21.04.

Centerstate Bank (NASDAQ:CSFL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.14). The business had revenue of $209.14 million for the quarter, compared to the consensus estimate of $194.73 million. Centerstate Bank had a return on equity of 8.41% and a net margin of 23.43%. Research analysts expect that Centerstate Bank Corp will post 1.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, May 7th. Centerstate Bank’s dividend payout ratio (DPR) is currently 26.29%.

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. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

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