Parametric Portfolio Associates LLC Increases Holdings in CenterState Banks, Inc. (CSFL)

Parametric Portfolio Associates LLC boosted its holdings in shares of CenterState Banks, Inc. (NASDAQ:CSFL) by 29.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,631 shares of the financial services provider’s stock after acquiring an additional 10,840 shares during the period. Parametric Portfolio Associates LLC owned about 0.08% of CenterState Banks worth $1,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Group Inc. raised its position in CenterState Banks by 2.9% during the second quarter. Advisor Group Inc. now owns 4,016 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 115 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CenterState Banks by 248.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,206 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 3,000 shares during the last quarter. Globeflex Capital L P acquired a new position in CenterState Banks during the second quarter worth about $115,000. BNP Paribas Arbitrage SA raised its position in CenterState Banks by 2,146.8% during the second quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 5,410 shares during the last quarter. Finally, Creative Planning raised its position in CenterState Banks by 2.8% during the second quarter. Creative Planning now owns 8,086 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

CenterState Banks, Inc. (NASDAQ:CSFL) opened at $25.92 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $1,558.58, a P/E ratio of 18.66 and a beta of 0.57. CenterState Banks, Inc. has a 52-week low of $20.95 and a 52-week high of $27.78.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, December 14th. CenterState Banks’s dividend payout ratio is presently 12.60%.

CenterState Banks declared that its board has authorized a share repurchase plan on Thursday, September 7th that permits the company to repurchase 3,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other news, CFO Jennifer Idell sold 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $27.00, for a total value of $63,477.00. Following the completion of the transaction, the chief financial officer now owns 9,053 shares of the company’s stock, valued at $244,431. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael F. Ciferri acquired 4,500 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average cost of $22.66 per share, with a total value of $101,970.00. Following the transaction, the director now owns 307,237 shares of the company’s stock, valued at $6,961,990.42. The disclosure for this purchase can be found here. In the last three months, insiders bought 7,500 shares of company stock valued at $170,940. Company insiders own 3.65% of the company’s stock.

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CSFL has been the subject of a number of research reports. Zacks Investment Research cut shares of CenterState Banks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. BidaskClub cut shares of CenterState Banks from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Stephens cut shares of CenterState Banks from an “overweight” rating to an “equal weight” rating and set a $28.00 target price for the company. in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.00 target price on shares of CenterState Banks in a research report on Tuesday, October 3rd. Finally, Brean Capital initiated coverage on shares of CenterState Banks in a research report on Tuesday, August 29th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $28.33.

About CenterState Banks

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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Institutional Ownership by Quarter for CenterState Banks (NASDAQ:CSFL)

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