Centerstate Bank (NASDAQ:CSFL) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Centerstate Bank (NASDAQ:CSFL) from a hold rating to a sell rating in a research report report published on Wednesday, June 26th, BidAskClub reports.

A number of other research analysts also recently issued reports on CSFL. Stephens initiated coverage on shares of Lilis Energy in a research note on Friday, March 29th. They issued an equal weight rating and a $2.00 price target for the company. Zacks Investment Research raised Garrett Motion from a sell rating to a hold rating in a report on Friday, May 10th. Finally, ValuEngine downgraded Zions Bancorporation NA from a hold rating to a sell rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Centerstate Bank presently has a consensus rating of Hold and a consensus price target of $28.40.

Shares of CSFL stock traded up $0.22 during trading hours on Wednesday, reaching $23.14. 277,919 shares of the company were exchanged, compared to its average volume of 604,750. The business has a fifty day moving average price of $22.73. Centerstate Bank has a fifty-two week low of $19.55 and a fifty-two week high of $31.22. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.28.

Centerstate Bank (NASDAQ:CSFL) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Centerstate Bank had a return on equity of 10.11% and a net margin of 27.51%. The firm had revenue of $143.48 million for the quarter, compared to analyst estimates of $142.80 million. On average, equities research analysts forecast that Centerstate Bank will post 2.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.90%.

Several large investors have recently made changes to their positions in the stock. Bremer Bank National Association purchased a new stake in Centerstate Bank in the first quarter valued at about $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Centerstate Bank in the first quarter valued at approximately $34,000. Toronto Dominion Bank acquired a new stake in Centerstate Bank in the fourth quarter valued at approximately $33,000. Osborn Williams & Donohoe LLC acquired a new stake in Centerstate Bank in the first quarter valued at approximately $49,000. Finally, Bremer Trust National Association acquired a new stake in Centerstate Bank in the fourth quarter valued at approximately $55,000. Institutional investors own 61.45% of the company’s stock.

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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