JPMorgan Chase & Co. lowered its position in CenterState Banks, Inc. (NASDAQ:CSFL) by 54.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,987 shares of the financial services provider’s stock after selling 40,412 shares during the period. JPMorgan Chase & Co. owned 0.07% of CenterState Banks worth $880,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Channing Capital Management LLC purchased a new stake in shares of CenterState Banks during the first quarter valued at about $31,318,000. Monarch Partners Asset Management LLC raised its stake in shares of CenterState Banks by 1,372.5% in the first quarter. Monarch Partners Asset Management LLC now owns 292,590 shares of the financial services provider’s stock valued at $7,578,000 after buying an additional 272,720 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of CenterState Banks by 2.2% in the first quarter. Wells Fargo & Company MN now owns 1,056,181 shares of the financial services provider’s stock valued at $27,355,000 after buying an additional 23,020 shares during the last quarter. Pegasus Partners Ltd. purchased a new stake in shares of CenterState Banks during the first quarter valued at about $585,000. Finally, Russell Investments Group Ltd. raised its stake in shares of CenterState Banks by 1.1% in the first quarter. Russell Investments Group Ltd. now owns 304,191 shares of the financial services provider’s stock valued at $7,878,000 after buying an additional 3,430 shares during the last quarter. Institutional investors and hedge funds own 69.07% of the company’s stock.
Shares of CenterState Banks, Inc. (CSFL) traded up 0.66% during mid-day trading on Friday, hitting $24.26. The company’s stock had a trading volume of 167,104 shares. The stock’s 50 day moving average price is $24.94 and its 200 day moving average price is $24.98. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 20.05 and a beta of 0.60. CenterState Banks, Inc. has a 52-week low of $17.09 and a 52-week high of $26.94.
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CSFL has been the topic of several research reports. BidaskClub upgraded CenterState Banks from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research lowered CenterState Banks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Finally, Stephens set a $29.00 target price on CenterState Banks and gave the company a “buy” rating in a research note on Monday, August 14th.
In other news, Director Charles W. Mcpherson purchased 3,600 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average cost of $24.75 per share, for a total transaction of $89,100.00. Following the purchase, the director now directly owns 27,144 shares in the company, valued at approximately $671,814. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.65% of the company’s stock.
CenterState Banks Company Profile
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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