Brean Capital reaffirmed their hold rating on shares of Park Sterling Corporation (NASDAQ:PSTB) in a report released on Friday morning.
Several other research analysts have also commented on the company. ValuEngine upgraded Park Sterling Corporation from a hold rating to a buy rating in a research report on Thursday. BidaskClub lowered Park Sterling Corporation from a hold rating to a sell rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered Park Sterling Corporation from a buy rating to a hold rating in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $10.38.
Park Sterling Corporation (NASDAQ:PSTB) traded down 0.17% on Friday, hitting $11.51. The stock had a trading volume of 37,620 shares. Park Sterling Corporation has a 52-week low of $7.50 and a 52-week high of $12.72. The company has a market cap of $608.93 million, a price-to-earnings ratio of 22.13 and a beta of 0.83. The company has a 50 day moving average price of $11.81 and a 200-day moving average price of $11.79.
Park Sterling Corporation (NASDAQ:PSTB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Park Sterling Corporation had a return on equity of 8.73% and a net margin of 19.00%. The business had revenue of $34.03 million during the quarter, compared to analyst estimates of $33.30 million. During the same period last year, the business posted $0.12 earnings per share. On average, equities research analysts predict that Park Sterling Corporation will post $0.61 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.16 dividend on an annualized basis and a yield of 1.39%. Park Sterling Corporation’s dividend payout ratio (DPR) is presently 30.77%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSTB. Carroll Financial Associates Inc. raised its position in Park Sterling Corporation by 1.3% in the second quarter. Carroll Financial Associates Inc. now owns 636,464 shares of the bank’s stock worth $7,561,000 after buying an additional 8,250 shares during the period. Aperio Group LLC raised its position in Park Sterling Corporation by 84.5% in the second quarter. Aperio Group LLC now owns 21,790 shares of the bank’s stock worth $259,000 after buying an additional 9,977 shares during the period. Virtu Financial LLC bought a new position in Park Sterling Corporation during the second quarter worth about $274,000. Goldman Sachs Group Inc. bought a new position in Park Sterling Corporation during the first quarter worth about $402,000. Finally, Bank of America Corp DE raised its position in Park Sterling Corporation by 19.5% in the first quarter. Bank of America Corp DE now owns 30,267 shares of the bank’s stock worth $373,000 after buying an additional 4,938 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Park Sterling Corporation Company Profile
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial non-member bank. The Company provides banking services to small and medium-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
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