Comerica Bank Sells 33,879 Shares of Park Sterling Corporation (PSTB)
Comerica Bank decreased its position in shares of Park Sterling Corporation (NASDAQ:PSTB) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,542 shares of the bank’s stock after selling 33,879 shares during the quarter. Comerica Bank owned about 0.69% of Park Sterling Corporation worth $4,627,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new stake in Park Sterling Corporation during the second quarter worth $142,000. Legal & General Group Plc grew its holdings in Park Sterling Corporation by 3.9% during the second quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock worth $151,000 after buying an additional 474 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Park Sterling Corporation by 9.3% during the second quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock worth $223,000 after buying an additional 1,598 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Park Sterling Corporation by 3.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,207 shares of the bank’s stock worth $228,000 after buying an additional 552 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Park Sterling Corporation by 84.5% during the second quarter. Aperio Group LLC now owns 21,790 shares of the bank’s stock worth $259,000 after buying an additional 9,977 shares in the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece was reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/comerica-bank-sells-33879-shares-of-park-sterling-corporation-pstb/1723374.html.
Park Sterling Corporation (NASDAQ:PSTB) opened at $12.34 on Friday. The stock has a market capitalization of $656.26, a price-to-earnings ratio of 19.90 and a beta of 0.85. 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 Corporation has a 12 month low of $9.60 and a 12 month high of $13.07.
Park Sterling Corporation (NASDAQ:PSTB) last announced 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 firm had revenue of $33.21 million during the quarter, compared to the consensus estimate of $33.20 million. Park Sterling Corporation had a return on equity of 9.08% and a net margin of 20.24%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. equities research analysts expect that Park Sterling Corporation will post 0.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.16 dividend on an annualized basis and a yield of 1.30%. Park Sterling Corporation’s dividend payout ratio (DPR) is presently 28.57%.
Several brokerages recently issued reports on PSTB. Brean Capital reiterated a “hold” rating on shares of Park Sterling Corporation in a report on Friday, October 27th. Stephens downgraded Park Sterling Corporation from an “overweight” rating to an “equal weight” rating in a report on Friday, October 27th. Zacks Investment Research downgraded Park Sterling Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine downgraded Park Sterling Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub upgraded Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $11.75.
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.
Receive News & Ratings for Park Sterling Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Sterling Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.