Park Sterling Corp. (PSTB) Downgraded to Market Perform at Keefe, Bruyette & Woods
Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Park Sterling Corp. from a sell rating to a hold rating in a report on Friday, September 23rd. Sandler O’Neill cut Park Sterling Corp. from a buy rating to a hold rating in a report on Friday, November 4th. ING Group cut Park Sterling Corp. from an outperform rating to a market perform rating in a report on Thursday, October 6th. Hovde Group cut Park Sterling Corp. from an outperform rating to a market perform rating and increased their price objective for the stock from $9.00 to $9.50 in a report on Monday, October 31st. Finally, Piper Jaffray Cos. began coverage on Park Sterling Corp. in a report on Wednesday, November 16th. They set a neutral rating and a $9.50 price objective on the stock. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $8.55.
Shares of Park Sterling Corp. (NASDAQ:PSTB) opened at 9.88 on Tuesday. The company has a market capitalization of $517.01 million, a PE ratio of 27.29 and a beta of 0.84. The stock’s 50 day moving average price is $8.84 and its 200 day moving average price is $8.01. Park Sterling Corp. has a 12-month low of $5.90 and a 12-month high of $10.35.
Park Sterling Corp. (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Park Sterling Corp. had a return on equity of 7.46% and a net margin of 13.97%. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, equities research analysts forecast that Park Sterling Corp. will post $0.51 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.16 annualized dividend and a dividend yield of 1.62%. Park Sterling Corp.’s payout ratio is currently 43.24%.
Several hedge funds have recently added to or reduced their stakes in the stock. Bremer Trust National Association boosted its stake in Park Sterling Corp. by 3.3% in the third quarter. Bremer Trust National Association now owns 17,797 shares of the company’s stock valued at $145,000 after buying an additional 564 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Park Sterling Corp. by 0.7% in the third quarter. California State Teachers Retirement System now owns 108,912 shares of the company’s stock worth $884,000 after buying an additional 800 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Park Sterling Corp. by 3.7% in the second quarter. BlackRock Advisors LLC now owns 26,280 shares of the company’s stock worth $186,000 after buying an additional 945 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Park Sterling Corp. by 1.6% in the third quarter. Rhumbline Advisers now owns 64,232 shares of the company’s stock worth $522,000 after buying an additional 1,010 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Park Sterling Corp. by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 252,651 shares of the company’s stock worth $2,052,000 after buying an additional 1,090 shares in the last quarter. 80.30% 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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