State Board of Administration of Florida Retirement System held its stake in CenterState Banks Inc. (NASDAQ:CSFL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,115 shares of the financial services provider’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System’s holdings in CenterState Banks were worth $301,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Huntington Asset Advisors Inc. purchased a new stake in CenterState Banks during the first quarter worth $161,000. C M Bidwell & Associates Ltd. purchased a new stake in CenterState Banks during the first quarter worth $268,000. Prudential Financial Inc. raised its stake in CenterState Banks by 0.4% in the first quarter. Prudential Financial Inc. now owns 25,975 shares of the financial services provider’s stock worth $387,000 after buying an additional 100 shares in the last quarter. Barclays PLC purchased a new stake in CenterState Banks during the first quarter worth $394,000. Finally, Nordea Investment Management AB purchased a new stake in CenterState Banks during the second quarter worth $654,000. Institutional investors and hedge funds own 71.94% of the company’s stock.
CenterState Banks Inc. (NASDAQ:CSFL) traded up 1.23% during trading on Friday, hitting $18.15. 53,543 shares of the company were exchanged. The stock has a market capitalization of $871.29 million, a PE ratio of 27.25 and a beta of 0.70. The firm’s 50 day moving average price is $17.86 and its 200-day moving average price is $16.40. CenterState Banks Inc. has a 1-year low of $12.57 and a 1-year high of $18.40.
CenterState Banks (NASDAQ:CSFL) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. CenterState Banks had a net margin of 14.11% and a return on equity of 7.61%. Equities analysts predict that CenterState Banks Inc. will post $1.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, September 13th. CenterState Banks’s dividend payout ratio (DPR) is presently 23.88%.
A number of brokerages have recently commented on CSFL. Keefe, Bruyette & Woods lifted their price target on shares of CenterState Banks from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of CenterState Banks from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Thursday, July 28th. Finally, Stephens upgraded shares of CenterState Banks from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Wednesday, September 28th.
About CenterState Banks
CenterState Banks, Inc (CSFL) 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.