KBW Reiterates Outperform on CenterState Banks

KBW is out with its report today on CenterState Banks CSFL, reiterating Outperform. In a note to clients, KBW writes, "CenterState missed 2Q consensus and KBW on higher NCOs, although NPAs declined for the first time in two years. PTPP rebounded from the last 2 qtrs' lows on higher correspondent banking income. TCE finished at 9.8% with pro forma TBV at $7.75/shr, inc the gain coming from Federal Trust. We are lowering 2011 and 2012 EPS. Reiterating Outperform and $8 price target." Shares of CSFL closed Monday at $6.48, down 0.31% from Friday's close.