SG Americas Securities LLC Invests $3.72 Million in Park Sterling Corporation (PSTB)

SG Americas Securities LLC acquired a new position in shares of Park Sterling Corporation (NASDAQ:PSTB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 312,745 shares of the bank’s stock, valued at approximately $3,715,000. SG Americas Securities LLC owned approximately 0.59% of Park Sterling Corporation as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. First Manhattan Co. boosted its stake in shares of Park Sterling Corporation by 33.6% in the first quarter. First Manhattan Co. now owns 159,100 shares of the bank’s stock worth $1,291,000 after buying an additional 40,000 shares in the last quarter. LSV Asset Management boosted its stake in shares of Park Sterling Corporation by 325.9% in the first quarter. LSV Asset Management now owns 87,300 shares of the bank’s stock worth $1,074,000 after buying an additional 66,800 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Park Sterling Corporation during the second quarter worth about $274,000. Boston Partners boosted its stake in shares of Park Sterling Corporation by 2.1% in the first quarter. Boston Partners now owns 227,817 shares of the bank’s stock worth $2,804,000 after buying an additional 4,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Park Sterling Corporation by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,032,148 shares of the bank’s stock worth $37,326,000 after buying an additional 194,494 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Park Sterling Corporation (PSTB) opened at 11.24 on Friday. The firm’s 50-day moving average price is $11.65 and its 200-day moving average price is $11.83. The stock has a market cap of $594.64 million, a price-to-earnings ratio of 21.62 and a beta of 0.83. Park Sterling Corporation has a 12-month low of $7.50 and a 12-month high of $12.72.

Park Sterling Corporation (NASDAQ:PSTB) last posted its quarterly earnings data 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 8.67% and a net margin of 19.00%. The firm had revenue of $34.03 million for the quarter, compared to the consensus estimate of $33.30 million. During the same quarter last year, the company earned $0.12 earnings per share. On average, equities analysts predict that Park Sterling Corporation will post $0.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, August 7th. Park Sterling Corporation’s dividend payout ratio (DPR) is currently 30.77%.

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A number of equities research analysts recently issued reports on PSTB shares. Brean Capital restated a “hold” rating on shares of Park Sterling Corporation in a research note on Thursday, August 3rd. ValuEngine upgraded Park Sterling Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research cut Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, BidaskClub cut Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Park Sterling Corporation presently has an average rating of “Hold” and a consensus target price of $10.63.

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.