Centerstate Banks (CSFL) Receives a Buy from Stephens

By Austin Angelo

Stephens analyst Tyler Stafford assigned a Buy rating to Centerstate Banks (CSFLResearch Report) today and set a price target of $30. The company’s shares closed on Monday at $21.04, close to its 52-week low of $19.55.

According to TipRanks.com, Stafford is a 3-star analyst with an average return of 0.8% and a 48.2% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.

Currently, the analyst consensus on Centerstate Banks is a Strong Buy with an average price target of $30, a 42.6% upside from current levels. In a report issued on December 31, Brean Capital also maintained a Buy rating on the stock with a $30 price target.

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Based on Centerstate Banks’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $37.96 million. In comparison, last year the company had a net profit of $1.91 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CSFL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CenterState Bank Corp. operates as a bank holding company. It operates through two divisions: Commercial and Retail Banking, and Correspondent Banking and Capital Market. The Commercial and Retail Banking division provides traditional deposit and lending products and services to its commercial and retail customers.