Park Sterling Corporation (PSTB) Position Trimmed by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky reduced its position in Park Sterling Corporation (NASDAQ:PSTB) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,297 shares of the bank’s stock after selling 19,548 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.21% of Park Sterling Corporation worth $1,310,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Karp Capital Management Corp purchased a new position in Park Sterling Corporation in the 1st quarter worth approximately $145,000. Legal & General Group Plc raised its holdings in Park Sterling Corporation by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock worth $151,000 after acquiring an additional 474 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Park Sterling Corporation by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock worth $223,000 after acquiring an additional 1,598 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in Park Sterling Corporation in the 1st quarter worth approximately $257,000. Finally, Aperio Group LLC raised its holdings in Park Sterling Corporation by 84.5% in the 2nd quarter. Aperio Group LLC now owns 21,790 shares of the bank’s stock worth $259,000 after acquiring an additional 9,977 shares during the last quarter. Institutional investors own 82.11% of the company’s stock.
A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of Park Sterling Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Brean Capital reiterated a “hold” rating on shares of Park Sterling Corporation in a research note on Friday, July 28th. BidaskClub lowered shares of Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research lowered shares of Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Park Sterling Corporation currently has an average rating of “Hold” and an average target price of $10.63.
Shares of Park Sterling Corporation (NASDAQ:PSTB) opened at 12.81 on Friday. The firm’s 50-day moving average is $11.72 and its 200-day moving average is $11.79. Park Sterling Corporation has a 52 week low of $8.00 and a 52 week high of $12.94. The stock has a market capitalization of $677.70 million, a price-to-earnings ratio of 24.63 and a beta of 0.84.
Park Sterling Corporation (NASDAQ:PSTB) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Park Sterling Corporation had a net margin of 19.00% and a return on equity of 8.67%. The business had revenue of $34.03 million during the quarter, compared to the consensus estimate of $33.30 million. During the same period in the previous year, the firm posted $0.12 earnings per share. Analysts forecast that Park Sterling Corporation will post $0.63 earnings per share for the current fiscal year.
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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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