Park Sterling Corp. (PSTB) Sees Unusually-High Trading Volume
Shares of Park Sterling Corp. (NASDAQ:PSTB) saw strong trading volume on Thursday . 327,194 shares changed hands during trading, an increase of 17% from the previous session’s volume of 279,605 shares.The stock last traded at $7.46 and had previously closed at $7.44.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Park Sterling Corp. from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Wednesday, May 4th. Hovde Group raised their price target on shares of Park Sterling Corp. from $7.25 to $8.25 and gave the stock an “outperform” rating in a research note on Monday, May 2nd. Finally, Stephens upgraded shares of Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Park Sterling Corp. presently has a consensus rating of “Buy” and a consensus price target of $8.00.
The firm has a market capitalization of $392.94 million and a price-to-earnings ratio of 23.21. The firm has a 50 day moving average of $7.24 and a 200-day moving average of $6.96.
Park Sterling Corp. (NASDAQ:PSTB) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $31.33 million for the quarter, compared to analyst estimates of $25.17 million. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. On average, analysts anticipate that Park Sterling Corp. will post $0.49 EPS for the current fiscal year.
Other hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Park Sterling Corp. by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,970 shares of the company’s stock worth $17,385,000 after buying an additional 48,532 shares during the period. Wells Fargo & Company MN increased its stake in Park Sterling Corp. by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,140,255 shares of the company’s stock worth $8,346,000 after buying an additional 34,413 shares in the last quarter. Finally, Boston Partners increased its stake in Park Sterling Corp. by 3.2% in the fourth quarter. Boston Partners now owns 155,978 shares of the company’s stock worth $1,142,000 after buying an additional 4,781 shares in the last quarter.
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Company provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
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