Park Sterling Corp. (PSTB) Sees Large Volume Increase
Shares of Park Sterling Corp. (NASDAQ:PSTB) saw an uptick in trading volume on Wednesday . 150,005 shares traded hands during trading, an increase of 20% from the previous session’s volume of 125,464 shares.The stock last traded at $8.12 and had previously closed at $8.04.
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 objective for the company in a research report on Wednesday, May 4th. Hovde Group increased their price objective on shares of Park Sterling Corp. from $7.25 to $8.25 and gave the company an “outperform” rating in a research report on Monday, May 2nd. Finally, Stephens upgraded shares of Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $8.00.
The firm has a market capitalization of $425.20 million and a price-to-earnings ratio of 23.40. The company’s 50-day moving average is $7.61 and its 200-day moving average is $7.06.
Park Sterling Corp. (NASDAQ:PSTB) last posted its earnings results on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. During the same quarter in the previous year, the business earned $0.10 EPS. Equities research analysts forecast that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.97%. This is an increase from Park Sterling Corp.’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, August 5th.
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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