Notable Runner: CenterState Banks Inc on Focus After Trading At 52-Week Highs

Notable Runner: CenterState Banks Inc on Focus After Trading At 52 Week Highs

The stock of CenterState Banks Inc (NASDAQ:CSFL) hit a new 52-week high and has $31.47 target or 64.00% above today’s $19.19 share price. The 5 months bullish chart indicates low risk for the $917.52M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $31.47 price target is reached, the company will be worth $587.21 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 356,941 shares traded hands or 87.58% up from the average. CenterState Banks Inc (NASDAQ:CSFL) has risen 27.50% since April 7, 2016 and is uptrending. It has outperformed by 22.72% the S&P500.

CenterState Banks Inc (NASDAQ:CSFL) Ratings Coverage

Out of 5 analysts covering Centerstate Banks of Florida (NASDAQ:CSFL), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Centerstate Banks of Florida has been the topic of 7 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm earned “Market Perform” rating on Friday, July 24 by Wood. Stephens initiated CenterState Banks Inc (NASDAQ:CSFL) on Thursday, May 26 with “Equal-Weight” rating. The rating was downgraded by Bruyette & Woods” to “Mkt Perform” on Thursday, July 23. The company was upgraded on Wednesday, September 28 by Stephens. The rating was downgraded by FIG Partners on Wednesday, April 27 to “Market Perform”.

According to Zacks Investment Research, “CenterState Banks, Inc., formerly CenterState Banks of Florida, Inc., operates as a multi bank holding company, which provides consumer and commercial banking services to individuals, businesses, and industries. The Bank owns CenterState Bank Central Florida National Association, CenterState Bank National Association, CenterState Bank of Florida National Association, and Valrico State Bank (collectively, the Banks). Based in Davenport, Florida, the Company provides a range of consumer and commercial banking services to individuals, businesses, and industries. In addition, the Company make secured and unsecured commercial and real estate loans and issue stand-by letters of credit. Further, the company provides mutual funds, annuities, bonds, fixed income securities, and other products, as well as commercial checking accounts and loans to correspondent banks.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in Q2 2016. Its down 0.23, from 1.34 in 2016Q1. The ratio fall, as 11 funds sold all CenterState Banks Inc shares owned while 44 reduced positions. 14 funds bought stakes while 47 increased positions. They now own 33.35 million shares or 3.47% less from 34.55 million shares in 2016Q1.
Elizabeth Park Capital Advsrs Limited accumulated 3.47% or 517,176 shares. Tiaa Cref Management Ltd Liability Company last reported 303,033 shares in the company. Great West Life Assurance Com Can accumulated 0% or 10,400 shares. Livforsakringsbolaget Skandia Omsesidigt reported 19,109 shares or 0.01% of all its holdings. Shell Asset Comm has 0.04% invested in the company for 97,690 shares. Blackrock Grp Incorporated Ltd reported 15,240 shares or 0% of all its holdings. Boston Prtn accumulated 0.01% or 357,576 shares. Millennium Limited Company holds 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL) for 107,735 shares. Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Netols Asset Mngmt Inc last reported 357,478 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Envestnet Asset Mgmt has invested 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL). Prudential accumulated 0% or 62,875 shares. The Washington-based Parametric Port Assoc Ltd Co has invested 0% in CenterState Banks Inc (NASDAQ:CSFL). Fisher Asset Management Limited Liability Co has 117,589 shares for 0% of their US portfolio.

More news for CenterState Banks Inc (NASDAQ:CSFL) were recently published by: Bizjournals.com, which released: “CenterState buys Brandon bank” on October 18, 2016. Bizjournals.com‘s article titled: “CenterState Banks looks to South Florida for latest acquisition” and published on October 05, 2015 is yet another important article.

CSFL Company Profile

CenterState Banks, Inc. (CSFL), incorporated on September 20, 1999, 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. In addition, the Company offers residential and commercial real estate loans, secured and unsecured commercial loans and consumer loans. The Firm also provides automated teller machine (ATM) cards and offers Internet banking services to its customers. It also offers trust services to clients throughout its existing markets in Florida.

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