• Return to Headlines

Downgrade Alert for Centerstate Banks of Florida (CSFL)

By Nick Russo

Centerstate Banks of Florida (NASDAQ:CSFL) was downgraded from Outperform to Market Perform at Fig Partners today. The stock closed yesterday at $16.20 on volume of 278,000 shares, above average daily volume of 152,000.

Centerstate Banks of Florida, Inc. is a multi-bank holding company for First National Bank of Osceola County, Community National Bank of Pasco County, First National Bank of Polk County, and CenterState Bank of Florida. The Banks provide traditional deposit and lending products and services to their commercial and retail customers located in Florida.

In the past 52 weeks, shares of Centerstate Banks of Florida have traded between a low of $12.00 and a high of $16.31 and closed yesterday at $16.20, which is 35% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.75% higher over the past week, respectively.

There is potential upside of 1.1% for shares of Centerstate Banks of Florida based on a current price of $16.20 and an average consensus analyst price target of $16.38. Centerstate Banks of Florida shares have support at the 50-day moving average (MA) of $14.96 and additional support at the 200-day MA of $14.68.

SmarTrend recommended that subscribers consider buying shares of Centerstate Banks of Florida on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.66. Since that recommendation, shares of Centerstate Banks of Florida have risen 9.0%. We continue to monitor CSFL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades centerstate banks of florida

Ticker(s): CSFL