Deprince Race & Zollo Inc. Raises Stake in Park Sterling Corp. (PSTB)
Deprince Race & Zollo Inc. boosted its stake in Park Sterling Corp. (NASDAQ:PSTB) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 1,184,092 shares of the company’s stock after buying an additional 129,756 shares during the period. Deprince Race & Zollo Inc.’s holdings in Park Sterling Corp. were worth $8,395,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Park Sterling Corp. during the second quarter valued at $125,000. Dalton Greiner Hartman Maher & Co. increased its position in Park Sterling Corp. by 1.4% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 374,871 shares of the company’s stock valued at $2,658,000 after buying an additional 5,202 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Park Sterling Corp. by 20.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 34,024 shares of the company’s stock valued at $227,000 after buying an additional 5,826 shares during the last quarter. Renaissance Technologies LLC increased its position in Park Sterling Corp. by 14.9% in the first quarter. Renaissance Technologies LLC now owns 251,273 shares of the company’s stock valued at $1,676,000 after buying an additional 32,550 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Park Sterling Corp. by 10.1% in the first quarter. Geode Capital Management LLC now owns 290,846 shares of the company’s stock valued at $1,939,000 after buying an additional 26,746 shares during the last quarter. Institutional investors own 77.24% of the company’s stock.
Park Sterling Corp. (NASDAQ:PSTB) traded up 0.25% during mid-day trading on Wednesday, hitting $8.12. The company’s stock had a trading volume of 89,986 shares. Park Sterling Corp. has a 52-week low of $5.90 and a 52-week high of $8.59. The stock has a market cap of $425.20 million, a P/E ratio of 23.40 and a beta of 0.92. The company’s 50 day moving average is $8.24 and its 200-day moving average is $7.50.
Park Sterling Corp. (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a return on equity of 7.23% and a net margin of 13.58%. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities analysts predict that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.
Several research firms have recently weighed in on PSTB. Zacks Investment Research upgraded Park Sterling Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 6th. Stephens upgraded 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. The company currently has a consensus rating of “Buy” and an average target price of $8.00.
Park Sterling Corp. Company Profile
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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