Park Sterling Corporation (PSTB) Upgraded to Buy by ValuEngine
ValuEngine upgraded shares of Park Sterling Corporation (NASDAQ:PSTB) from a hold rating to a buy rating in a report issued on Thursday morning.
Several other equities research analysts also recently commented on the company. BidaskClub downgraded Park Sterling Corporation from a hold rating to a sell rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Park Sterling Corporation from a buy rating to a hold rating in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $10.38.
Park Sterling Corporation (PSTB) opened at 11.53 on Thursday. The company has a market cap of $609.98 million, a price-to-earnings ratio of 22.17 and a beta of 0.83. The stock has a 50 day moving average of $11.81 and a 200-day moving average of $11.79. Park Sterling Corporation has a 52-week low of $7.50 and a 52-week high of $12.72.
Park Sterling Corporation (NASDAQ:PSTB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $34.03 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $0.12 EPS. On average, analysts forecast that Park Sterling Corporation will post $0.61 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, August 7th. Park Sterling Corporation’s dividend payout ratio is 30.77%.
Large investors have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Park Sterling Corporation by 10.8% in the fourth quarter. State Street Corp now owns 857,207 shares of the bank’s stock valued at $9,250,000 after buying an additional 83,558 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Park Sterling Corporation by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,837,654 shares of the bank’s stock valued at $30,618,000 after buying an additional 218,820 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Park Sterling Corporation by 18.0% in the fourth quarter. Teachers Advisors LLC now owns 103,205 shares of the bank’s stock valued at $1,114,000 after buying an additional 15,741 shares in the last quarter. First Manhattan Co. increased its stake in shares of Park Sterling Corporation by 33.6% in the first quarter. First Manhattan Co. now owns 159,100 shares of the bank’s stock valued at $1,291,000 after buying an additional 40,000 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Park Sterling Corporation by 325.9% in the first quarter. LSV Asset Management now owns 87,300 shares of the bank’s stock valued at $1,074,000 after buying an additional 66,800 shares in the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.
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.
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