The CCO of Centerstate Banks (NASDAQ: CSFL) is Buying Shares

By Carrie Williams

Today, the CCO of Centerstate Banks (CSFLResearch Report), Daniel Bockhorst, bought shares of CSFL for $20.87K.

In addition to Daniel Bockhorst, 5 other CSFL executives reported Buy trades in the last month. This recent transaction increases Daniel Bockhorst’s holding in the company by 2.56% to a total of $847.7K.

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Based on Centerstate Banks’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $142 million and quarterly net profit of $37.96 million. In comparison, last year the company earned revenue of $83.85 million and had a net profit of $22 million. CSFL’s market cap is $2.01B and the company has a P/E ratio of 16.69. Currently, Centerstate Banks has an average volume of 63.88K.

Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $30.20, reflecting a 41.9% upside. Starting in September 2018, CSFL received 11 Buy ratings in a row. Five different firms, including Brean Capital and KBW, currently also have a Buy rating on the stock.

The insider sentiment on Centerstate Banks has been positive according to 46 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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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.