Centerstate Bank Corp (CSFL) Plans Quarterly Dividend of $0.10

Centerstate Bank Corp (NASDAQ:CSFL) declared a quarterly dividend on Thursday, May 3rd, Wall Street Journal reports. Investors of record on Friday, June 15th will be paid a dividend of 0.10 per share by the financial services provider on Friday, June 29th. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, June 14th.

Shares of NASDAQ CSFL opened at $31.16 on Wednesday. Centerstate Bank has a fifty-two week low of $25.03 and a fifty-two week high of $32.27. The stock has a market capitalization of $2.61 billion, a P/E ratio of 22.41 and a beta of 0.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Centerstate Bank (NASDAQ:CSFL) last announced its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Centerstate Bank had a net margin of 19.81% and a return on equity of 8.36%. The business had revenue of $118.06 million for the quarter, compared to analysts’ expectations of $113.07 million. sell-side analysts expect that Centerstate Bank will post 1.99 earnings per share for the current year.

In other Centerstate Bank news, insider Ernest S. Pinner sold 38,307 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $31.90, for a total value of $1,221,993.30. Following the completion of the sale, the insider now owns 114,117 shares in the company, valued at approximately $3,640,332.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.35% of the company’s stock.

CSFL has been the topic of several recent research reports. SunTrust Banks initiated coverage on shares of Centerstate Bank in a research report on Tuesday, March 6th. They issued a “buy” rating and a $32.00 price target on the stock. Brean Capital reiterated a “buy” rating on shares of Centerstate Bank in a research note on Thursday, April 5th. Stephens upgraded shares of Centerstate Bank from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 26th. Raymond James increased their price objective on shares of Centerstate Bank from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 26th. Finally, BidaskClub upgraded shares of Centerstate Bank from a “hold” rating to a “buy” rating in a research note on Friday, April 27th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Centerstate Bank has an average rating of “Buy” and a consensus price target of $31.00.

Centerstate Bank Company Profile

CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries in Florida. The company's deposit products include savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

Dividend History for Centerstate Bank (NASDAQ:CSFL)

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