NasdaqGS:CSFL

Stock Analysis Report

Executive Summary

CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A.

Snowflake

Fundamentals

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has CenterState Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.8%

CSFL

3.7%

US Banks

1.8%

US Market


1 Year Return

-3.5%

CSFL

1.9%

US Banks

7.3%

US Market

Return vs Industry: CSFL underperformed the US Banks industry which returned 1.9% over the past year.

Return vs Market: CSFL underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

CSFLIndustryMarket
7 Day2.8%3.7%1.8%
30 Day-2.2%0.2%-0.7%
90 Day3.5%2.5%0.06%
1 Year-1.8%-3.5%4.9%1.9%9.7%7.3%
3 Year34.4%29.5%51.7%41.2%46.3%36.9%
5 Year132.5%121.1%69.7%51.2%64.5%46.5%

Price Volatility Vs. Market

How volatile is CenterState Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CenterState Bank undervalued compared to its fair value and its price relative to the market?

21.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CSFL ($24.14) is trading below our estimate of fair value ($30.92)

Significantly Undervalued: CSFL is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CSFL is poor value based on its PE Ratio (13.2x) compared to the Banks industry average (12.6x).

PE vs Market: CSFL is good value based on its PE Ratio (13.2x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: CSFL is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: CSFL is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is CenterState Bank forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

16.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSFL's forecast earnings growth (16% per year) is above the savings rate (2.7%).

Earnings vs Market: CSFL's earnings (16% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: CSFL's earnings are forecast to grow, but not significantly.

Revenue vs Market: CSFL's revenue (8.7% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: CSFL's revenue (8.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CSFL's Return on Equity is forecast to be low in 3 years time (8.9%).


Next Steps

Past Performance

How has CenterState Bank performed over the past 5 years?

48.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CSFL's earnings have grown significantly by 48.1% per year over the past 5 years.

Accelerating Growth: CSFL's earnings growth over the past year (104.8%) exceeds its 5-year average (48.1% per year).

Earnings vs Industry: CSFL earnings growth over the past year (104.8%) exceeded the Banks industry 30.5%.


Return on Equity

High ROE: CSFL's Return on Equity (6.5%) is considered low.


Return on Assets

ROA vs Industry: CSFL has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CSFL's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is CenterState Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CSFL has a low level of unsold assets or inventory.

Debt Coverage by Assets: CSFL's debt is covered by short term assets (assets are 1.563680x debt).


Financial Institutions Analysis

Asset Level: CSFL's level of assets compared to its equity is low.

Allowance for Bad Loans: CSFL has a sufficient allowance for bad loans.

Low Risk Liabilities: CSFL's liabilities are made up of primarily low risk sources of funding.

Loan Level: CSFL has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CSFL's loans are broadly funded by customer deposits.

Level of Bad Loans: CSFL has an appropriate level of bad loans (0.22%)


Next Steps

Dividend

What is CenterState Bank's current dividend yield, its reliability and sustainability?

1.82%

Current Dividend Yield


Dividend Yield vs Market

company1.8%marketbottom25%1.5%markettop25%3.7%industryaverage3.0%forecastin3Years1.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CSFL's dividend (1.82%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CSFL's dividend (1.82%) is low compared to the top 25% of dividend payers in the US market (3.72%).

Stable Dividend: CSFL's dividends per share have been stable in the past 10 years.

Growing Dividend: CSFL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.9%), CSFL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CSFL's dividends in 3 years are forecast to be well covered by earnings (24.3% payout ratio).


Next Steps

Management

What is the CEO of CenterState Bank's salary, the management and board of directors tenure and is there insider trading?

2.3yrs

Average management tenure


CEO

John Corbett (50yo)

4.3yrs

Tenure

US$2,443,374

Compensation

Mr. John C. Corbett has been the Chief Executive Officer and President of CenterState Bank Corporation since July 20, 2015. Mr. Corbett has been the Chief Executive Officer and President of Centerstate Ban ...


CEO Compensation Analysis

Compensation vs. Market: John's total compensation ($USD2.44M) is about average for companies of similar size in the US market ($USD5.11M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.3yrs

Average Tenure

54yo

Average Age

Experienced Management: CSFL's management team is considered experienced (2.3 years average tenure).


Board Age and Tenure

11.4yrs

Average Tenure

67.5yo

Average Age

Experienced Board: CSFL's board of directors are seasoned and experienced ( 11.4 years average tenure).


Insider Trading

Insider Buying: CSFL insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$82,32712 Aug 19
Thomas Oakley
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,575
Max PriceUS$23.03
SellUS$392,46518 Mar 19
George Nunez
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares15,000
Max PriceUS$26.16
BuyUS$50,93520 Dec 18
Ernest Pinner
EntityIndividual
Role
Chairman of the Board
Executive Chairman of the Board
Shares2,425
Max PriceUS$21.07
BuyUS$20,86819 Dec 18
Daniel Bockhorst
EntityIndividual
Role
Senior Key Executive
Executive VP & Chief Credit Officer
Shares1,000
Max PriceUS$20.87
BuyUS$21,05718 Dec 18
John Corbett
EntityIndividual
Role
Chief Executive Officer
President
Shares1,000
Max PriceUS$21.06
BuyUS$77,02014 Dec 18
David Salyers
EntityIndividual
Shares3,500
Max PriceUS$22.50
BuyUS$29,83010 Dec 18
William Pou
EntityIndividual
Shares1,300
Max PriceUS$22.95
BuyUS$99,86607 Dec 18
Charles McPherson
EntityIndividual
Role
Vice Chairman
Vice Chairman & Independent Lead Director
Shares4,000
Max PriceUS$24.97
BuyUS$45,82007 Dec 18
David Salyers
EntityIndividual
Shares2,000
Max PriceUS$22.91

Ownership Breakdown


Management Team

  • Will Matthews (54yo)

    CFO & Executive VP

    • Tenure: 0.5yrs
  • Ernie Pinner (72yo)

    Executive Chairman of the Board

    • Tenure: 15.8yrs
    • Compensation: US$1.12m
  • Beth DeSimone (59yo)

    Chief Risk Officer

    • Tenure: 2.4yrs
  • Shaun Merriman

    President of West Florida Region

    • Tenure: 0yrs
  • John Corbett (50yo)

    President

    • Tenure: 4.3yrs
    • Compensation: US$2.44m
  • Ed Kofman

    Managing Director To Head The Loan Trading & Hedge Desk

    • Tenure: 5.7yrs
  • Steve Young (42yo)

    Executive VP & COO

    • Tenure: 3.5yrs
    • Compensation: US$1.35m
  • Dan Bockhorst (55yo)

    Executive VP & Chief Credit Officer

    • Tenure: 1.8yrs
    • Compensation: US$766.61k
  • Jennifer Idell (44yo)

    Executive VP & Chief Administrative Officer

    • Tenure: 0.5yrs
    • Compensation: US$790.34k
  • Nathan Goodnight

    Senior Vice President of the Correspondent Division

    • Tenure: 2.1yrs

Board Members

  • Thomas Oakley (76yo)

    Independent Director

    • Tenure: 17.8yrs
    • Compensation: US$71.42k
  • Ernie Pinner (72yo)

    Executive Chairman of the Board

    • Tenure: 15.8yrs
    • Compensation: US$1.12m
  • James Bingham (70yo)

    Independent Director

    • Tenure: 20.8yrs
    • Compensation: US$89.72k
  • Griffin Greene (60yo)

    Independent Director

    • Tenure: 7.5yrs
    • Compensation: US$81.22k
  • Charles McPherson (71yo)

    Vice Chairman & Independent Lead Director

    • Tenure: 0yrs
    • Compensation: US$89.87k
  • George Nunez (66yo)

    Independent Director

    • Tenure: 15.8yrs
    • Compensation: US$104.62k
  • John Corbett (50yo)

    President

    • Tenure: 4.3yrs
    • Compensation: US$2.44m
  • Michael Ciferri (69yo)

    Independent Director

    • Tenure: 5.7yrs
    • Compensation: US$80.17k
  • Charles Carlton (66yo)

    Independent Director

    • Tenure: 11.4yrs
    • Compensation: US$76.62k
  • Mark Thompson (55yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: US$820.30k

Company Information

CenterState Bank Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CenterState Bank Corporation
  • Ticker: CSFL
  • Exchange: NasdaqGS
  • Founded: 1999
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$3.115b
  • Shares outstanding: 129.03m
  • Website: https://www.centerstatebank.com

Number of Employees


Location

  • CenterState Bank Corporation
  • 1101 First Street South
  • Suite 202
  • Winter Haven
  • Florida
  • 33880
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CSFLNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 2001

Biography

CenterState Bank Corporation operates as the holding company for CenterState Bank, N.A. that provides various consumer and commercial banking services to individuals, businesses, and industries. The compan ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 23:33
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.