Park Sterling Corporation (NASDAQ:PSTB) Earns “Hold” Rating from Brean Capital
Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Park Sterling Corporation from a buy rating to a hold rating in a research report on Wednesday, May 17th. ValuEngine raised Park Sterling Corporation from a hold rating to a buy rating in a research report 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $10.38.
Shares of Park Sterling Corporation (NASDAQ PSTB) remained flat at $11.62 during trading on Friday. The company had a trading volume of 28,259 shares. Park Sterling Corporation has a one year low of $7.50 and a one year high of $12.72. The firm has a 50 day moving average price of $11.80 and a 200 day moving average price of $11.81. The firm has a market cap of $614.74 million, a PE ratio of 22.35 and a beta of 0.83.
Park Sterling Corporation (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The business had revenue of $34.03 million for the quarter, compared to analyst estimates of $33.30 million. Park Sterling Corporation had a return on equity of 8.73% and a net margin of 19.00%. During the same period in the prior year, the company posted $0.12 EPS. On average, equities analysts forecast that Park Sterling Corporation will post $0.61 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.16 dividend on an annualized basis and a yield of 1.38%. Park Sterling Corporation’s payout ratio is currently 30.77%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. AlphaOne Investment Services LLC increased its position in shares of Park Sterling Corporation by 1.2% in the first quarter. AlphaOne Investment Services LLC now owns 344,977 shares of the bank’s stock worth $4,246,000 after buying an additional 4,072 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Park Sterling Corporation during the first quarter worth approximately $257,000. Karp Capital Management Corp bought a new position in shares of Park Sterling Corporation during the first quarter worth approximately $145,000. Teza Capital Management LLC bought a new position in shares of Park Sterling Corporation during the first quarter worth approximately $162,000. Finally, FSI Group LLC bought a new position in shares of Park Sterling Corporation during the first quarter worth approximately $1,231,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Park Sterling Corporation 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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