Capstar Financial (CSTR) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Capstar Financial (NASDAQ:CSTR) from a hold rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $23.00 target price on the bank’s stock.
According to Zacks, “CapStar Financial Holdings, Inc. is a bank holding company. It operates primarily through its wholly owned subsidiary, CapStar Bank. The Company offers baking products and services which include savings accounts, debit and credit cards, personal and business loans, mortgages, line of credit, wealth management and online banking. CapStar Financial Holdings, Inc. is headquartered in Nashville, Tennessee. “
Separately, Keefe, Bruyette & Woods reissued a hold rating and issued a $18.00 target price on shares of Capstar Financial in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $19.25.
Capstar Financial (NASDAQ:CSTR) last released its earnings results on Monday, October 16th. The bank reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.12. The business had revenue of $14.22 million for the quarter, compared to analysts’ expectations of $13.56 million. Capstar Financial had a return on equity of 9.27% and a net margin of 7.05%. During the same quarter in the prior year, the firm earned $0.20 earnings per share. equities research analysts predict that Capstar Financial will post 0.36 EPS for the current year.
In related news, major shareholder Corsair Capital Llc sold 117,439 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $21.82, for a total value of $2,562,518.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julie D. Frist sold 2,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $21.15, for a total value of $42,300.00. Following the completion of the transaction, the director now directly owns 211,821 shares in the company, valued at approximately $4,480,014.15. The disclosure for this sale can be found here. In the last three months, insiders sold 123,439 shares of company stock worth $2,682,699. 19.28% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Capstar Financial during the third quarter valued at about $120,000. New York State Common Retirement Fund boosted its position in Capstar Financial by 410.8% during the second quarter. New York State Common Retirement Fund now owns 9,200 shares of the bank’s stock valued at $163,000 after buying an additional 7,399 shares during the period. Wells Fargo & Company MN boosted its position in Capstar Financial by 43.3% during the third quarter. Wells Fargo & Company MN now owns 10,177 shares of the bank’s stock valued at $199,000 after buying an additional 3,077 shares during the period. Huber Capital Management LLC purchased a new stake in Capstar Financial during the second quarter valued at about $211,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Capstar Financial during the second quarter valued at about $268,000. Institutional investors and hedge funds own 35.64% of the company’s stock.
About Capstar Financial
CapStar Financial Holdings, Inc is a bank holding company. The Company operates primarily through its subsidiary, CapStar Bank. CapStar Bank is a commercial bank. The Company’s lines of business include commercial and industrial, commercial real estate, healthcare, correspondent banking, personal and private banking and wealth management, and mortgage banking.
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