Stock of The Day: Can CenterState Banks Inc’s Tomorrow be Different? The Stock Just Broke Its High

Stock of The Day: Can CenterState Banks Inc's Tomorrow be Different? The Stock Just Broke Its High

The stock of CenterState Banks Inc (NASDAQ:CSFL) hit a new 52-week high and has $23.94 target or 8.00% above today’s $22.17 share price. The 7 months bullish chart indicates low risk for the $1.08B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $23.94 price target is reached, the company will be worth $86.40 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 49,507 shares traded hands. CenterState Banks Inc (NASDAQ:CSFL) has risen 35.10% since April 20, 2016 and is uptrending. It has outperformed by 30.54% 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. $17 is the highest target while $14.50 is the lowest. The $15.83 average target is -28.60% below today’s ($22.17) stock price. Centerstate Banks of Florida has been the topic of 7 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Thursday, May 26 by Stephens. The stock of CenterState Banks Inc (NASDAQ:CSFL) has “Market Perform” rating given on Friday, July 24 by Wood. The rating was upgraded by Stephens on Wednesday, September 28 to “Overweight”. Bruyette & Woods” downgraded the shares of CSFL in a report on Thursday, July 23 to “Mkt Perform” rating. The stock of CenterState Banks Inc (NASDAQ:CSFL) has “Market Perform” rating given on Wednesday, April 27 by FIG Partners.

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 2016 Q2. Its up 0.32, from 1.11 in 2016Q1. The ratio improved, 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.
Rhumbline Advisers, a Massachusetts-based fund reported 53,312 shares. Moreover, Wells Fargo Mn has 0.01% invested in CenterState Banks Inc (NASDAQ:CSFL) for 1.11M shares. Moreover, Northpointe Limited Liability Corp has 1.15% invested in CenterState Banks Inc (NASDAQ:CSFL) for 619,990 shares. Gsa Prns Limited Liability Partnership accumulated 0.01% or 16,665 shares. Susquehanna Intl Group Limited Liability Partnership holds 0% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL) for 117,883 shares. State Board Of Administration Of Florida Retirement holds 19,115 shares or 0% of its portfolio. The Texas-based Dimensional Fund L P has invested 0.02% in CenterState Banks Inc (NASDAQ:CSFL). Seizert Prtnrs Limited Liability has invested 0.11% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL). Maltese Cap Lc reported 562,600 shares or 1.11% of all its holdings. Intll Gru Inc accumulated 26,699 shares or 0% of the stock. Gam Hldg Ag has 0.03% invested in the company for 113,985 shares. State Bank Of Mellon, a New York-based fund reported 419,900 shares. Goldman Sachs Gp last reported 0% of its portfolio in the stock. Eagle Asset Mgmt has 0.04% invested in the company for 373,251 shares. Nordea Mgmt Ab last reported 0% of its portfolio in the stock.

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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