Centerstate Bank Corp (NASDAQ:CSFL) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 623,536 shares, a drop of 64.3% from the January 12th total of 1,747,505 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 466,433 shares, the days-to-cover ratio is currently 1.3 days.

CSFL has been the topic of a number of recent analyst reports. BidaskClub raised shares of Centerstate Bank from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Zacks Investment Research raised shares of Centerstate Bank from a “sell” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, December 26th. Brean Capital reissued a “hold” rating on shares of Centerstate Bank in a research report on Tuesday, January 2nd. Stephens cut shares of Centerstate Bank from an “overweight” rating to an “equal weight” rating and set a $28.00 price target on the stock. in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $29.00 price target on shares of Centerstate Bank in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $29.50.

Centerstate Bank (NASDAQ CSFL) opened at $26.34 on Wednesday. Centerstate Bank has a 52-week low of $25.03 and a 52-week high of $27.50. 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 firm has a market cap of $1,579.62, a price-to-earnings ratio of 20.74 and a beta of 0.51.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Centerstate Bank’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 14th. Centerstate Bank’s dividend payout ratio (DPR) is presently 18.90%.

In other news, Director Thomas E. Oakley sold 20,000 shares of Centerstate Bank stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $26.80, for a total transaction of $536,000.00. Following the transaction, the director now directly owns 221,358 shares of the company’s stock, valued at $5,932,394.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ernest S. Pinner sold 20,186 shares of Centerstate Bank stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $27.31, for a total transaction of $551,279.66. Following the transaction, the insider now directly 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 currently owned by company insiders.

Several large investors have recently modified their holdings of the stock. Channing Capital Management LLC raised its holdings in shares of Centerstate Bank by 10.1% during the fourth quarter. Channing Capital Management LLC now owns 2,416,089 shares of the financial services provider’s stock worth $62,166,000 after acquiring an additional 220,680 shares during the period. Kennedy Capital Management Inc. raised its holdings in shares of Centerstate Bank by 3.5% during the fourth quarter. Kennedy Capital Management Inc. now owns 302,676 shares of the financial services provider’s stock worth $7,788,000 after acquiring an additional 10,301 shares during the period. Geode Capital Management LLC raised its holdings in shares of Centerstate Bank by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 608,968 shares of the financial services provider’s stock worth $15,668,000 after acquiring an additional 76,944 shares during the period. Financial Advisory Group raised its holdings in shares of Centerstate Bank by 305.8% during the fourth quarter. Financial Advisory Group now owns 15,916 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 11,994 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Centerstate Bank during the fourth quarter worth $315,000.

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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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