Vanguard Group Inc. Has $25.47 Million Position in Park Sterling Corporation (PSTB)
Vanguard Group Inc. increased its stake in Park Sterling Corporation (NASDAQ:PSTB) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,143,632 shares of the bank’s stock after purchasing an additional 153,266 shares during the quarter. Vanguard Group Inc. owned approximately 4.05% of Park Sterling Corporation worth $25,466,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in Park Sterling Corporation by 2.2% in the 2nd quarter. Northern Trust Corp now owns 593,271 shares of the bank’s stock worth $7,048,000 after purchasing an additional 12,512 shares during the last quarter. Citigroup Inc. lifted its holdings in Park Sterling Corporation by 712.8% in the 2nd quarter. Citigroup Inc. now owns 29,650 shares of the bank’s stock worth $352,000 after purchasing an additional 26,002 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Park Sterling Corporation by 6.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 83,437 shares of the bank’s stock worth $991,000 after purchasing an additional 4,920 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Park Sterling Corporation by 1.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 260,748 shares of the bank’s stock worth $3,098,000 after purchasing an additional 3,242 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Park Sterling Corporation by 2.0% in the 2nd quarter. Teachers Advisors LLC now owns 109,421 shares of the bank’s stock worth $1,300,000 after purchasing an additional 2,126 shares during the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.
Shares of Park Sterling Corporation (NASDAQ PSTB) opened at $12.05 on Monday. The stock has a market capitalization of $640.84, a P/E ratio of 19.43 and a beta of 0.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Park Sterling Corporation has a 1 year low of $9.15 and a 1 year high of $13.07.
Park Sterling Corporation (NASDAQ:PSTB) last released its quarterly earnings data on Thursday, October 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $33.21 million for the quarter, compared to analysts’ expectations of $33.20 million. Park Sterling Corporation had a return on equity of 9.08% and a net margin of 20.24%. Park Sterling Corporation’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. analysts predict that Park Sterling Corporation will post 0.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 7th. Park Sterling Corporation’s dividend payout ratio is presently 28.57%.
Several research firms recently weighed in on PSTB. Stephens lowered Park Sterling Corporation from an “overweight” rating to an “equal weight” rating in a report on Friday, October 27th. Brean Capital reiterated a “hold” rating on shares of Park Sterling Corporation in a report on Friday, October 27th. Zacks Investment Research lowered Park Sterling Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine lowered Park Sterling Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered Park Sterling Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.00.
Park Sterling Corporation Profile
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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