ING Group Lowers Park Sterling Corp. (PSTB) to Market Perform
Several other research firms have also recently issued reports on PSTB. Zacks Investment Research raised shares of Park Sterling Corp. from a sell rating to a hold rating in a report on Tuesday, September 6th. Stephens upgraded shares of Park Sterling Corp. from an equal weight rating to an overweight rating in a research report on Tuesday, July 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Park Sterling Corp. has an average rating of Hold and a consensus price target of $8.00.
Shares of Park Sterling Corp. (NASDAQ:PSTB) opened at 8.09 on Thursday. The stock has a market cap of $423.62 million, a price-to-earnings ratio of 23.31 and a beta of 0.92. The stock’s 50 day moving average is $8.24 and its 200 day moving average is $7.54. Park Sterling Corp. has a 52-week low of $5.90 and a 52-week high of $8.59.
Park Sterling Corp. (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a net margin of 13.58% and a return on equity of 7.23%. During the same quarter in the previous year, the company earned $0.10 earnings per share. On average, equities analysts expect that Park Sterling Corp. will post $0.51 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Park Sterling Corp. by 5.7% in the second quarter. California State Teachers Retirement System now owns 108,112 shares of the company’s stock valued at $767,000 after buying an additional 5,812 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Park Sterling Corp. by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 251,561 shares of the company’s stock valued at $1,783,000 after buying an additional 14,337 shares in the last quarter. Monarch Partners Asset Management LLC raised its stake in Park Sterling Corp. by 23.1% in the second quarter. Monarch Partners Asset Management LLC now owns 42,650 shares of the company’s stock valued at $302,000 after buying an additional 8,000 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Park Sterling Corp. by 12.3% in the second quarter. Deprince Race & Zollo Inc. now owns 1,184,092 shares of the company’s stock valued at $8,395,000 after buying an additional 129,756 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Park Sterling Corp. during the second quarter valued at approximately $125,000. Institutional investors own 77.24% of the company’s stock.
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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