On Jun 24, 2014, Zacks Investment Research upgraded
CenterState Banks, Inc.
) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
CenterState Banks has been witnessing rising earnings estimates
following the announcement of the sale of six branch offices.
Further, the company acquired First Southern Bancorp, Inc. on Jun
1, 2014. Notably, five of the six branches to be sold are the part
of this acquisition.
Moreover, CenterState Banks has a long-term expected earnings
growth rate of 8.0%. The stock has delivered a solid return of
30.4% over the past one year.
Additionally, CenterState Banks reported its first-quarter results
on Apr 22 with earnings of 13 cents per share, beating the Zacks
Consensus Estimate by 18.2%. Results benefited mainly from 23.5%
year over year increase in net interest income, partially offset by
44.0% decline in non-interest income and 19.6% rise in operating
During the last 60 days, the Zacks Consensus Estimate for 2014
increased 10.0% to 66 cents per share. For 2015, the Zacks
Consensus Estimate advanced 3.4% to 91 cents per share over the
same time period.
Other Stocks to Consider
Some other banking stocks worth considering include
Middleburg Financial Corporation
Capital City Bank Group Inc.
Simmons First National Corporation
). All these stocks sport a Zacks Rank #1.
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CENTERSTATE BNK (CSFL): Free Stock Analysis
MIDDLEBURG FINL (MBRG): Free Stock Analysis
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CAPITAL CITY BK (CCBG): Free Stock Analysis
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