Raymond James Financial Inc. Lowers Park Sterling Corp. (PSTB) to Market Perform
Park Sterling Corp. (NASDAQ:PSTB) was downgraded by stock analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday.
Several other equities analysts have also recently commented on PSTB. Zacks Investment Research raised shares of Park Sterling Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. ING Group cut shares of Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Stephens raised shares of Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $8.00.
Shares of Park Sterling Corp. (NASDAQ:PSTB) traded down 0.62% during midday trading on Thursday, hitting $8.07. The company’s stock had a trading volume of 18,210 shares. The firm has a market cap of $422.58 million, a P/E ratio of 23.26 and a beta of 0.92. The stock’s 50 day moving average is $8.24 and its 200-day moving average is $7.50. Park Sterling Corp. has a 52-week low of $5.90 and a 52-week high of $8.59.
Park Sterling Corp. (NASDAQ:PSTB) last posted its earnings results on Thursday, July 28th. The company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a net margin of 13.58% and a return on equity of 7.23%. During the same quarter in the previous year, the company posted $0.10 EPS. Equities analysts predict that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. APG Asset Management N.V. bought a new stake in Park Sterling Corp. during the second quarter worth approximately $1,564,000. Banc Funds Co. LLC boosted its stake in 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 worth $21,528,000 after buying an additional 187,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Park Sterling Corp. by 9,771.7% in the second quarter. JPMorgan Chase & Co. now owns 175,124 shares of the company’s stock worth $1,242,000 after buying an additional 173,350 shares during the period. Deprince Race & Zollo Inc. boosted its stake in Park Sterling Corp. by 12.3% in the second quarter. Deprince Race & Zollo Inc. now owns 1,184,092 shares of the company’s stock worth $8,395,000 after buying an additional 129,756 shares during the period. Finally, Forward Management LLC bought a new stake in Park Sterling Corp. during the first quarter worth approximately $745,000. 77.24% of the stock is currently owned by institutional investors.
About Park Sterling Corp.
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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