Park Sterling Corporation (PSTB) Receives Consensus Recommendation of “Hold” from Brokerages
Park Sterling Corporation (NASDAQ:PSTB) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.63.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Park Sterling Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Brean Capital reaffirmed a “hold” rating on shares of Park Sterling Corporation in a research report on Friday, July 28th. ValuEngine raised Park Sterling Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.
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Shares of Park Sterling Corporation (PSTB) traded down 0.95% during midday trading on Friday, hitting $11.52. The stock had a trading volume of 124,793 shares. The firm has a market cap of $609.45 million, a price-to-earnings ratio of 22.15 and a beta of 0.83. The stock’s 50 day moving average price is $11.44 and its 200 day moving average price is $11.76. Park Sterling Corporation has a 12 month low of $7.50 and a 12 month high of $12.72.
Park Sterling Corporation (NASDAQ:PSTB) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. Park Sterling Corporation had a return on equity of 8.67% and a net margin of 19.00%. The firm had revenue of $34.03 million for the quarter, compared to analysts’ expectations of $33.30 million. During the same period in the previous year, the firm earned $0.12 EPS. On average, equities analysts forecast that Park Sterling Corporation will post $0.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, August 7th. Park Sterling Corporation’s dividend payout ratio (DPR) is presently 30.77%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Suntrust Banks Inc. bought a new stake in Park Sterling Corporation during the 1st quarter valued at approximately $131,000. BlueCrest Capital Management Ltd bought a new stake in Park Sterling Corporation during the 2nd quarter valued at approximately $142,000. Karp Capital Management Corp bought a new stake in Park Sterling Corporation during the 1st quarter valued at approximately $145,000. Legal & General Group Plc raised its stake in Park Sterling Corporation by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock valued at $151,000 after purchasing an additional 474 shares during the period. Finally, Teza Capital Management LLC bought a new stake in Park Sterling Corporation during the 1st quarter valued at approximately $162,000. 82.20% of the stock is currently owned by institutional investors.
About Park Sterling Corporation
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial non-member bank. The Company provides banking services to small and medium-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
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