Pier 88 Investment Partners LLC Purchases 3,300 Shares of Centerstate Bank Corp (NASDAQ:CSFL)

Pier 88 Investment Partners LLC grew its position in shares of Centerstate Bank Corp (NASDAQ:CSFL) by 16.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 22,830 shares of the financial services provider’s stock after acquiring an additional 3,300 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Centerstate Bank were worth $526,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. D L Carlson Investment Group Inc. boosted its position in shares of Centerstate Bank by 0.5% during the 1st quarter. D L Carlson Investment Group Inc. now owns 90,480 shares of the financial services provider’s stock valued at $2,154,000 after acquiring an additional 465 shares during the last quarter. Alps Advisors Inc. lifted its position in Centerstate Bank by 4.4% in the first quarter. Alps Advisors Inc. now owns 15,827 shares of the financial services provider’s stock worth $377,000 after buying an additional 672 shares during the last quarter. Comerica Bank lifted its position in Centerstate Bank by 0.3% in the second quarter. Comerica Bank now owns 284,630 shares of the financial services provider’s stock worth $6,524,000 after buying an additional 969 shares during the last quarter. Parallel Advisors LLC lifted its position in Centerstate Bank by 29.2% in the second quarter. Parallel Advisors LLC now owns 5,252 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,187 shares during the last quarter. Finally, Bremer Bank National Association bought a new stake in Centerstate Bank in the first quarter worth $34,000. Hedge funds and other institutional investors own 67.13% of the company’s stock.

In other Centerstate Bank news, Director Thomas E. Oakley bought 3,575 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $23.03 per share, for a total transaction of $82,332.25. Following the completion of the transaction, the director now owns 206,631 shares in the company, valued at $4,758,711.93. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.75% of the stock is currently owned by company insiders.

CSFL has been the subject of a number of analyst reports. Zacks Investment Research upgraded Centerstate Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. BidaskClub upgraded Centerstate Bank from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.40.

CSFL traded down $0.33 during trading on Tuesday, reaching $23.21. The company had a trading volume of 14,086 shares, compared to its average volume of 624,021. The business has a 50 day simple moving average of $23.21 and a 200-day simple moving average of $24.00. Centerstate Bank Corp has a 52 week low of $19.55 and a 52 week high of $31.22. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19.

Centerstate Bank (NASDAQ:CSFL) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Centerstate Bank had a return on equity of 9.64% and a net margin of 27.16%. The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $193.83 million. On average, sell-side analysts expect that Centerstate Bank Corp will post 2.05 EPS for the current year.

Centerstate Bank 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. The company accepts various deposit products, such as savings, demand, negotiable order of withdrawal, and money market deposit accounts, as well as certificates of deposit and time deposits.

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Institutional Ownership by Quarter for Centerstate Bank (NASDAQ:CSFL)

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