Centerstate Bank (CSFL) Receiving Somewhat Favorable News Coverage, Study Shows

Media stories about Centerstate Bank (NASDAQ:CSFL) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Centerstate Bank earned a coverage optimism score of 0.25 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 46.0698768825065 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the news stories that may have impacted Accern Sentiment’s scoring:

Several equities analysts have recently issued reports on CSFL shares. Zacks Investment Research raised shares of Centerstate Bank from a “sell” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday. Stephens downgraded shares of Centerstate Bank from an “overweight” rating to an “equal weight” rating and set a $28.00 price target for the company. in a report on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.00 price objective on shares of Centerstate Bank in a research note on Tuesday, October 3rd. ValuEngine cut shares of Centerstate Bank from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Brean Capital initiated coverage on shares of Centerstate Bank in a research note on Tuesday, August 29th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Centerstate Bank presently has an average rating of “Hold” and an average target price of $29.00.

Shares of Centerstate Bank (CSFL) traded down $0.09 during midday trading on Tuesday, hitting $26.37. 201,352 shares of the company were exchanged, compared to its average volume of 244,533. Centerstate Bank has a fifty-two week low of $21.77 and a fifty-two week high of $27.95. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1,590.00, a PE ratio of 20.93 and a beta of 0.55.

Centerstate Bank announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 7th that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, December 14th. Centerstate Bank’s dividend payout ratio is currently 19.05%.

In other Centerstate Bank news, CFO Jennifer Idell sold 2,351 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $27.00, for a total value of $63,477.00. Following the sale, the chief financial officer now directly owns 9,053 shares in the company, valued at $244,431. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ernest S. Pinner sold 20,186 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $27.31, for a total transaction of $551,279.66. Following the completion of the sale, the insider now owns 131,766 shares in the company, valued at $3,598,529.46. The disclosure for this sale can be found here. 3.65% of the stock is owned by insiders.

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About Centerstate Bank

CenterState Bank Corporation, formerly CenterState Banks, Inc, is a financial holding company, which owns CenterState Bank of Florida, N.A. (CenterState Bank or the Bank). The Company provides a range of consumer and commercial banking services to individuals, businesses and industries. The Company’s segments include commercial and retail banking, correspondent banking and capital markets division, and corporate overhead and administration.

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