Keefe Bruyette & Woods Reiterate Outperform Rating on CenterState Banks

According to a recent report, Keefe Bruyette & Woods has maintained an Outperform rating on CenterState Banks CSFL and an $8.00 price target after CenterStates recent second 2011 un-assisted deal announcement. In the report, Keefe Bruyette & Woods said, "We expect the deal to be self-capitalizing with an after-tax gain of ~$25 mm in 4Q11. Despite modest dilution ($0.04/share) to our 2012 EPS estimate, the deal should be a nickel accretive in 2013." CSFL closed yesterday at $6.17.