Do Hedge Funds Love CenterState Banks Inc (CSFL)?

With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was CenterState Banks Inc (NASDAQ:CSFL).

CenterState Banks Inc (NASDAQ:CSFL) shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 15 hedge funds’ portfolios at the end of September. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as ArcBest Corp (NASDAQ:ARCB), Baytex Energy Corp (USA) (NYSE:BTE), and First NBC Bank Holding Company (NASDAQ:FNBC) to gather more data points.

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Now, we’re going to go over the fresh action regarding CenterState Banks Inc (NASDAQ:CSFL).

How have hedgies been trading CenterState Banks Inc (NASDAQ:CSFL)?

Heading into Q4, a total of 15 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 0% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Forest Hill Capital, managed by Mark Lee, holds the largest position in CenterState Banks Inc (NASDAQ:CSFL). Forest Hill Capital has a $45.2 million position in the stock, comprising 4.3% of its 13F portfolio. Sitting at the No. 2 spot is Basswood Capital, led by Matthew Lindenbaum, holding a $37 million position; 1.8% of its 13F portfolio is allocated to the stock. Remaining professional money managers with similar optimism comprise Chuck Royce’s Royce & Associates, Fred Cummings’ Elizabeth Park Capital Management and Jim Simons’ Renaissance Technologies.