Park Sterling Corp. (PSTB) Given Average Recommendation of “Buy” by Brokerages
Park Sterling Corp. (NASDAQ:PSTB) has earned an average broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. Park Sterling Corp.’s rating score has declined by 25.6% in the last three months as a result of a number of analysts’ ratings changes.
Analysts have set a twelve-month consensus target price of $9.00 for the company and are predicting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also assigned Park Sterling Corp. an industry rank of 112 out of 265 based on the ratings given to its competitors.
PSTB has been the topic of a number of recent research reports. Stephens upgraded Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 5th. Zacks Investment Research lowered Park Sterling Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. ING Group lowered Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Finally, Raymond James Financial Inc. lowered Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th.
Institutional investors have recently made changes to their positions in the stock. Airain ltd purchased a new position in shares of Park Sterling Corp. during the second quarter worth approximately $111,000. Bank of Montreal Can purchased a new position in shares of Park Sterling Corp. during the second quarter worth approximately $125,000. Bremer Trust National Association boosted its position in shares of Park Sterling Corp. by 3.3% in the third quarter. Bremer Trust National Association now owns 17,797 shares of the company’s stock worth $145,000 after buying an additional 564 shares during the period. BlackRock Advisors LLC boosted its position in shares of Park Sterling Corp. by 3.7% in the second quarter. BlackRock Advisors LLC now owns 26,280 shares of the company’s stock worth $186,000 after buying an additional 945 shares during the period. Finally, American International Group Inc. boosted its position in shares of Park Sterling Corp. by 12.3% in the second quarter. American International Group Inc. now owns 29,680 shares of the company’s stock worth $210,000 after buying an additional 3,249 shares during the period. Institutional investors own 77.24% of the company’s stock.
Shares of Park Sterling Corp. (NASDAQ:PSTB) opened at 8.01 on Tuesday. The stock has a market cap of $419.44 million, a P/E ratio of 23.08 and a beta of 0.92. Park Sterling Corp. has a one year low of $5.90 and a one year high of $8.59. The stock’s 50 day moving average is $8.23 and its 200-day moving average is $7.55.
Park Sterling Corp. (NASDAQ:PSTB) last issued its earnings results on Thursday, July 28th. The company reported $0.12 EPS for the quarter, beating the Zacks’ 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 last year, the company earned $0.10 EPS. On average, equities analysts forecast that Park Sterling Corp. will post $0.51 EPS for the current year.
About Park Sterling Corp.
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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