Park Sterling Corp. (PSTB) Downgraded by ING Group to Market Perform
Park Sterling Corp. (NASDAQ:PSTB) was downgraded by analysts at ING Group from an “outperform” rating to a “market perform” rating in a research report issued on Thursday.
Several other brokerages also recently commented on PSTB. Zacks Investment Research raised Park Sterling Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Stephens raised Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $8.00.
Park Sterling Corp. (NASDAQ:PSTB) opened at 8.12 on Thursday. The stock’s 50 day moving average price is $8.24 and its 200 day moving average price is $7.50. Park Sterling Corp. has a 52-week low of $5.90 and a 52-week high of $8.59. The firm has a market capitalization of $425.20 million, a PE ratio of 23.40 and a beta of 0.92.
Park Sterling Corp. (NASDAQ:PSTB) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a return on equity of 7.23% and a net margin of 13.58%. During the same quarter in the prior year, the business posted $0.10 EPS. On average, analysts predict that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Banc Funds Co. LLC increased its position in shares of Park Sterling Corp. by 6.6% in the second quarter. Banc Funds Co. LLC now owns 3,036,355 shares of the company’s stock valued at $21,528,000 after buying an additional 187,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Park Sterling Corp. by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,509,009 shares of the company’s stock valued at $17,789,000 after buying an additional 20,542 shares during the period. Vanguard Group Inc. raised its position in Park Sterling Corp. by 4.9% in the second quarter. Vanguard Group Inc. now owns 1,760,101 shares of the company’s stock valued at $12,479,000 after buying an additional 82,126 shares during the period. RMB Capital Management LLC raised its position in Park Sterling Corp. by 5.4% in the second quarter. RMB Capital Management LLC now owns 1,387,377 shares of the company’s stock valued at $9,837,000 after buying an additional 71,311 shares during the period. Finally, BlackRock Fund Advisors raised its position in Park Sterling Corp. by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,326,991 shares of the company’s stock valued at $9,408,000 after buying an additional 100,709 shares during the period. 77.24% of the stock is currently owned by hedge funds and other institutional investors.
Park Sterling Corp. Company Profile
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Company provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
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