Piper Jaffray Cos. started coverage on shares of Park Sterling Corp. (NASDAQ:PSTB) in a report published on Wednesday morning. The firm issued a neutral rating and a $9.50 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Park Sterling Corp. from a hold rating to a sell rating in a report on Wednesday, August 3rd. ING Group cut shares of Park Sterling Corp. from an outperform rating to a market perform rating in a report on Thursday, October 6th. Hovde Group cut shares of Park Sterling Corp. from an outperform rating to a market perform rating and upped their target price for the company from $9.00 to $9.50 in a report on Monday, October 31st. Raymond James Financial Inc. lowered shares of Park Sterling Corp. from an outperform rating to a market perform rating in a research note on Thursday, October 6th. Finally, Sandler O’Neill lowered shares of Park Sterling Corp. from a buy rating to a hold rating in a research note on Friday, November 4th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $8.55.

Analyst Recommendations for Park Sterling Corp. (NASDAQ:PSTB)

Shares of Park Sterling Corp. (NASDAQ:PSTB) traded up 0.11% on Wednesday, reaching $9.51. 129,432 shares of the company’s stock were exchanged. Park Sterling Corp. has a 12 month low of $5.90 and a 12 month high of $10.00. The firm’s 50-day moving average price is $8.47 and its 200 day moving average price is $7.87. The company has a market cap of $506.90 billion, a price-to-earnings ratio of 25.70 and a beta of 0.84.

Park Sterling Corp. (NASDAQ:PSTB) last issued its earnings results on Thursday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Park Sterling Corp. had a net margin of 13.97% and a return on equity of 7.46%. During the same period in the previous year, the business posted $0.11 EPS. Equities research analysts predict that Park Sterling Corp. will post $0.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, November 4th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.68%. Park Sterling Corp.’s payout ratio is presently 43.24%.

Several hedge funds have recently bought and sold shares of the company. Dalton Greiner Hartman Maher & Co. raised its stake in Park Sterling Corp. by 1.4% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 374,871 shares of the company’s stock valued at $2,658,000 after buying an additional 5,202 shares in the last quarter. Bank of Montreal Can purchased a new stake in Park Sterling Corp. during the second quarter valued at about $125,000. Deprince Race & Zollo Inc. raised 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 valued at $8,395,000 after buying an additional 129,756 shares in the last quarter. Monarch Partners Asset Management LLC raised its stake in Park Sterling Corp. by 23.1% in the second quarter. Monarch Partners Asset Management LLC now owns 42,650 shares of the company’s stock valued at $302,000 after buying an additional 8,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Park Sterling Corp. by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 251,561 shares of the company’s stock valued at $1,783,000 after buying an additional 14,337 shares in the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.

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.

5 Day Chart for NASDAQ:PSTB

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