Is CenterState Banks Inc (CSFL) A Good Stock To Buy?

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Now, key hedge funds were breaking ground themselves. Alpenglow Capital, led by Sharif Siddiqui, created the most outsized position in CenterState Banks Inc (NASDAQ:CSFL). Alpenglow Capital had $1.3 million invested in the company at the end of the quarter. Paul Tudor Jones’ Tudor Investment Corp also initiated a $0.4 million position during the quarter. The other funds with brand new CSFL positions are Mike Vranos’ Ellington, Ken Griffin’s Citadel Investment Group, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks similar to CenterState Banks Inc (NASDAQ:CSFL). These stocks are Continental Building Products Inc (NYSE:CBPX), Hanmi Financial Corp (NASDAQ:HAFC), Gamco Investors Inc. (NYSE:GBL), and Crossamerica Partners LP (NYSE:CAPL). This group of stocks’ market values resemble CSFL’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CBPX 26 126843 0
HAFC 8 48653 1
GBL 9 14014 0
CAPL 5 26687 0

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $56 million in CSFL’s case. Continental Building Products Inc (NYSE:CBPX) is the most popular stock in this table. On the other hand Crossamerica Partners LP (NYSE:CAPL) is the least popular one with only 5 bullish hedge fund positions. CenterState Banks Inc (NASDAQ:CSFL) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CBPX might be a better candidate to consider taking a long position in.

Disclosure: None

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