Principal Financial Group Inc. increased its position in Park Sterling Corporation (NASDAQ:PSTB) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,756 shares of the bank’s stock after buying an additional 1,598 shares during the quarter. Principal Financial Group Inc.’s holdings in Park Sterling Corporation were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Karp Capital Management Corp purchased a new position in shares of Park Sterling Corporation in the 1st quarter worth $145,000. Legal & General Group Plc raised its position in shares of 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 buying an additional 474 shares during the period. Aperio Group LLC raised its position in shares of 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 buying an additional 9,977 shares during the period. Virtu Financial LLC purchased a new position in shares of Park Sterling Corporation in the 2nd quarter worth $274,000. Finally, Virginia Retirement Systems ET AL raised its position in shares of Park Sterling Corporation by 22.8% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 25,600 shares of the bank’s stock worth $304,000 after buying an additional 4,758 shares during the period. 82.11% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on PSTB shares. Zacks Investment Research lowered Park Sterling Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine raised Park Sterling Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Brean Capital reaffirmed a “hold” rating on shares of Park Sterling Corporation in a research report on Thursday, August 3rd. Finally, BidaskClub raised Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Park Sterling Corporation has a consensus rating of “Hold” and a consensus target price of $10.63.

Park Sterling Corporation (PSTB) opened at 12.85 on Tuesday. Park Sterling Corporation has a 52-week low of $8.01 and a 52-week high of $12.94. The firm has a 50-day moving average price of $11.96 and a 200 day moving average price of $11.84. The stock has a market capitalization of $679.82 million, a price-to-earnings ratio of 24.71 and a beta of 0.84.

Park Sterling Corporation (NASDAQ:PSTB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.17 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $33.30 million. During the same quarter in the previous year, the business earned $0.12 EPS. On average, equities research analysts predict that Park Sterling Corporation will post $0.63 EPS for the current year.

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Park Sterling Corporation 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.

Institutional Ownership by Quarter for Park Sterling Corporation (NASDAQ:PSTB)

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