Park Sterling Corp. (PSTB) Sees Large Volume Increase
Park Sterling Corp. (NASDAQ:PSTB) saw unusually-strong trading volume on Wednesday . Approximately 150,005 shares traded hands during mid-day 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.
A number of analysts recently weighed in on PSTB shares. Zacks Investment Research lowered shares of Park Sterling Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Stephens upgraded shares of Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 5th. Finally, Hovde Group boosted their target price on shares of Park Sterling Corp. from $7.25 to $8.25 and gave the stock an “outperform” rating in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.00.
The company has a market cap of $426.77 million and a PE ratio of 23.49. The stock’s 50-day moving average is $7.64 and its 200-day moving average is $7.06.
Park Sterling Corp. (NASDAQ:PSTB) last issued its quarterly 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 company posted $0.10 EPS. Analysts forecast that Park Sterling Corp. will post $0.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th will be issued a dividend of $0.04 per share. This is an increase from Park Sterling Corp.’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.96%. 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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