Brown Advisory Inc. Buys New Stake in Park Sterling Corporation (PSTB)
Brown Advisory Inc. bought a new stake in shares of Park Sterling Corporation (NASDAQ:PSTB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,991 shares of the bank’s stock, valued at approximately $173,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in PSTB. Willingdon Wealth Management bought a new stake in Park Sterling during the third quarter valued at approximately $108,000. BlueCrest Capital Management Ltd bought a new stake in Park Sterling during the second quarter valued at approximately $142,000. Legal & General Group Plc grew its position in Park Sterling by 3.9% during the second quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock valued at $151,000 after buying an additional 474 shares during the period. Citadel Advisors LLC bought a new stake in Park Sterling during the third quarter valued at approximately $164,000. Finally, Principal Financial Group Inc. grew its position in Park Sterling by 9.3% during the second quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock valued at $223,000 after buying an additional 1,598 shares during the period. Institutional investors own 82.55% of the company’s stock.
Park Sterling Corporation (PSTB) opened at $12.87 on Thursday. The firm has a market cap of $686.80, a P/E ratio of 20.76 and a beta of 0.85. Park Sterling Corporation has a 12-month low of $9.60 and a 12-month high of $13.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.90 and a quick ratio of 0.90.
Park Sterling (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $33.21 million during the quarter, compared to analyst estimates of $33.20 million. Park Sterling had a net margin of 20.24% and a return on equity of 9.08%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. sell-side analysts anticipate that Park Sterling Corporation will post 0.6 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were given a $0.04 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.24%. Park Sterling’s payout ratio is currently 28.57%.
PSTB has been the subject of a number of recent analyst reports. Stephens lowered shares of Park Sterling from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 27th. Brean Capital reiterated a “hold” rating on shares of Park Sterling in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Park Sterling from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, August 18th. ValuEngine lowered shares of Park Sterling from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, BidaskClub upgraded shares of Park Sterling from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Park Sterling presently has a consensus rating of “Hold” and an average price target of $13.00.
Park Sterling Company 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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