The stock of CenterState Banks Inc (NASDAQ:CSFL) hit a new 52-week high and has $30.07 target or 62.00% above today’s $18.56 share price. The 5 months bullish chart indicates low risk for the $915.55 million company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $30.07 price target is reached, the company will be worth $567.64 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 189,180 shares traded hands or 8.64% up from the average. CenterState Banks Inc (NASDAQ:CSFL) has risen 22.96% since March 16, 2016 and is uptrending. It has outperformed by 17.42% the S&P500.
Analysts await CenterState Banks Inc (NASDAQ:CSFL) to report earnings on November, 1. They expect $0.30 EPS, up 36.36% or $0.08 from last year’s $0.22 per share. CSFL’s profit will be $14.80M for 15.47 P/E if the $0.30 EPS becomes a reality. After $0.32 actual EPS reported by CenterState Banks Inc for the previous quarter, Wall Street now forecasts -6.25% 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 rating was downgraded by FIG Partners on Wednesday, April 27 to “Market Perform”. Bruyette & Woods” downgraded CenterState Banks Inc (NASDAQ:CSFL) on Thursday, July 23 to “Mkt Perform” rating. The firm has “Overweight” rating given on Wednesday, September 28 by Stephens. On Thursday, May 26 the stock rating was initiated by Stephens with “Equal-Weight”. Wood downgraded the stock to “Market Perform” rating in Friday, July 24 report.
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 2016 Q2. Its down 0.23, from 1.34 in 2016Q1. The ratio dived, 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.
Sawtooth Asset Incorporated accumulated 0.2% or 23,130 shares. Continental Advsr Ltd Llc has invested 0.85% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL). Phocas holds 0.8% or 692,594 shares in its portfolio. Teacher Retirement Of Texas holds 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL) for 6,297 shares. Blackrock owns 11,767 shares or 0% of their US portfolio. Fisher Asset Limited Liability last reported 117,589 shares in the company. Susquehanna Group Inc Incorporated Llp has invested 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL). Art Advisors Llc has 38,671 shares for 0.03% of their US portfolio. Highbridge Cap Management Limited Liability Co last reported 38,077 shares in the company. Rothschild Asset Mgmt reported 245,598 shares or 0.07% of all its holdings. The New York-based Renaissance Technology Ltd Liability has invested 0.02% in CenterState Banks Inc (NASDAQ:CSFL). Teachers Advisors accumulated 0% or 114,061 shares. Eagle Asset Mgmt Inc holds 0.04% or 373,251 shares in its portfolio. Blackrock Advsr Limited Liability Com last reported 0.01% of its portfolio in the stock. Us Commercial Bank De has invested 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL).
More news for CenterState Banks Inc (NASDAQ:CSFL) were recently published by: Bizjournals.com, which released: “CenterState CEO tells what’s next on the M&A, hiring fronts” on October 19, 2016. Benzinga.com‘s article titled: “Earnings Scheduled For October 18, 2016” and published on October 18, 2016 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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