Is CenterState Banks Inc (CSFL) a Buy? The Stock Formed Bullish Descending Triangle Pattern

July 17, 2017 - By Adrian Erickson

Investors sentiment decreased to 1.11 in Q4 2016. Its down 0.32, from 1.43 in 2016Q3. It is negative, as 18 investors sold CenterState Banks Inc shares while 54 reduced holdings. 26 funds opened positions while 54 raised stakes. 34.86 million shares or 1.88% more from 34.22 million shares in 2016Q3 were reported.
Airain Limited has 8,479 shares. Brown Brothers Harriman & invested 0% in CenterState Banks Inc (NASDAQ:CSFL). Thomson Horstmann And Bryant Inc invested 0.18% in CenterState Banks Inc (NASDAQ:CSFL). Moreover, Alps Advsr Inc has 0% invested in CenterState Banks Inc (NASDAQ:CSFL). Intrust Bank & Trust Na holds 0.15% or 15,698 shares in its portfolio. Columbia Partners L L C Investment Mngmt reported 0.25% stake. Ohio-based Elizabeth Park Cap Advisors Ltd has invested 0.99% in CenterState Banks Inc (NASDAQ:CSFL). 8,400 are owned by Trexquant Limited Partnership. Jpmorgan Chase & Company owns 74,399 shares for 0% of their portfolio. Blackrock Institutional Trust Na reported 0.01% of its portfolio in CenterState Banks Inc (NASDAQ:CSFL). Virginia Retirement Et Al has 35,500 shares for 0.01% of their portfolio. Monarch Asset Mgmt Llc has 0.04% invested in CenterState Banks Inc (NASDAQ:CSFL). Bessemer Grp Inc Incorporated holds 0% or 11,500 shares. Wells Fargo Mn accumulated 1.03M shares. Jane Street Gru Limited Com has invested 0% in CenterState Banks Inc (NASDAQ:CSFL).

Since March 13, 2017, it had 0 buys, and 3 selling transactions for $1.99 million activity. TRANTER JOHN E had sold 26,877 shares worth $699,785 on Wednesday, March 15. $1.02M worth of CenterState Banks Inc (NASDAQ:CSFL) was sold by Corbett John C on Monday, March 13.

The stock of CenterState Banks Inc (CSFL) formed a descending triangle with $27.04 target or 9.00 % above today’s $24.81 share price. The 7 months triangle pattern indicates low risk for the $1.37B company. If the $27.04 price target is reached, the company will be worth $123.30M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.68% or $0.17 during the last trading session, reaching $24.81. About 140,816 shares traded. CenterState Banks Inc (NASDAQ:CSFL) has risen 57.47% since July 17, 2016 and is uptrending. It has outperformed by 40.77% the S&P500.

Investors wait CenterState Banks Inc (NASDAQ:CSFL) to report on July, 24. its quarterly earnings Wall Street analysts expect $0.31 earnings per share, down $0.01 or 3.13 % from last year’s $0.32 same quarter earnings. This translates into $17.12 million profit for CSFL giving the stock a 20.01 P/E. This is assuming the current $0.31 EPS is accurate. CenterState Banks Inc’s Wall Street analysts see -6.06 % negative EPS growth, taking into account the $0.33 EPS reproted in the previous quarter,

CenterState Banks Inc (NASDAQ:CSFL) Ratings Coverage

Among 5 analysts covering Centerstate Banks of Florida (NASDAQ:CSFL), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Centerstate Banks of Florida had 7 analyst reports since July 24, 2015 according to SRatingsIntel. Stephens upgraded CenterState Banks Inc (NASDAQ:CSFL) on Wednesday, September 28 to “Overweight” rating. Bruyette & Woods” downgraded CenterState Banks Inc (NASDAQ:CSFL) on Thursday, July 23 to “Mkt Perform” rating. The stock of CenterState Banks Inc (NASDAQ:CSFL) has “Equal-Weight” rating given on Thursday, May 26 by Stephens. Wood downgraded it to “Market Perform” rating and $14.50 target in Friday, July 24 report. The firm has “Market Perform” rating given on Wednesday, April 27 by FIG Partners.

More notable recent CenterState Banks Inc (NASDAQ:CSFL) news were published by: Bizjournals.com which released: “CenterState’s latest acquisition takes it to a new metro in the Tampa Bay market” on December 01, 2016, also Reuters.com with their article: “BRIEF-Centerstate Banks Inc – Gateway Financial Holdings Of Florida merged …” published on May 01, 2017, Nasdaq.com published: “CenterState Banks, Inc. (CSFL) Ex-Dividend Date Scheduled for June 13, 2017” on June 12, 2017. More interesting news about CenterState Banks Inc (NASDAQ:CSFL) were released by: Nasdaq.com and their article: “Here’s Why You Should Buy CenterState Banks (CSFL) Now” published on March 31, 2017 as well as Bizjournals.com‘s news article titled: “What’s next for CenterState Banks now that it’s closed its latest deal” with publication date: May 01, 2017.

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