The stock of CenterState Banks Inc (NASDAQ:CSFL) hit a new 52-week high and has $24.51 target or 9.00% above today’s $22.49 share price. The 9 months bullish chart indicates low risk for the $1.07 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $24.51 price target is reached, the company will be worth $96.30 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 153,885 shares traded hands. CenterState Banks Inc (NASDAQ:CSFL) has risen 38.61% since April 26, 2016 and is uptrending. It has outperformed by 33.35% the S&P500.
Analysts await CenterState Banks Inc (NASDAQ:CSFL) to report earnings on January, 24. They expect $0.31 EPS, up 34.78% or $0.08 from last year’s $0.23 per share. CSFL’s profit will be $14.75 million for 18.14 P/E if the $0.31 EPS becomes a reality. After $0.32 actual EPS reported by CenterState Banks Inc for the previous quarter, Wall Street now forecasts -3.13% negative EPS growth.
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 stock has “Market Perform” rating given by Wood on Friday, July 24. The firm has “Equal-Weight” rating given on Thursday, May 26 by Stephens. The rating was upgraded by Stephens to “Overweight” on Wednesday, September 28. On Wednesday, April 27 the stock rating was downgraded by FIG Partners to “Market Perform”. The company was downgraded on Thursday, July 23 by Bruyette & Woods”.
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 increased to 1.43 in Q2 2016. Its up 0.32, from 1.11 in 2016Q1. The ratio is positive, 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.
Schwab Charles Inc has invested 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL). Aqr Capital Management Limited Liability Corporation holds 0% or 166,804 shares in its portfolio. Renaissance Ltd Liability Com accumulated 505,700 shares or 0.02% of the stock. Apg Asset Mngmt Nv accumulated 337,248 shares or 0.01% of the stock. The Texas-based Dimensional Fund Advisors Lp has invested 0.02% in CenterState Banks Inc (NASDAQ:CSFL). Moreover, Martingale Asset Ltd Partnership has 0.01% invested in CenterState Banks Inc (NASDAQ:CSFL) for 19,214 shares. 1492 Mgmt Limited Liability Corporation accumulated 3.58% or 253,099 shares. Swiss Bancorporation has 0% invested in the company for 79,696 shares. Blackrock Grp Ltd reported 15,240 shares or 0% of all its holdings. Continental Advsr Limited Liability Com holds 0.85% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL) for 175,036 shares. Envestnet Asset Management holds 29,467 shares or 0% of its portfolio. Eam Investors Ltd Llc last reported 0.1% of its portfolio in the stock. Maltese Cap Mngmt Llc holds 1.11% or 562,600 shares in its portfolio. Moreover, Rhumbline Advisers has 0% invested in CenterState Banks Inc (NASDAQ:CSFL) for 53,312 shares. Legal And General Grp Inc Incorporated Public Limited Company holds 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL) for 6,357 shares.
More recent CenterState Banks Inc (NASDAQ:CSFL) news were published by: Bizjournals.com which released: “CenterState buys Brandon bank” on October 18, 2016. Also Finance.Yahoo.com published the news titled: “CenterState Banks (CSFL): Strong Industry, Solid Earnings Estimate Revisions” on November 10, 2016. Bizjournals.com‘s news article titled: “CenterState Banks looks to South Florida for latest acquisition” with publication date: October 05, 2015 was also an interesting one.
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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