Park Sterling Corporation (NASDAQ:PSTB) Stock Rating Upgraded by ValuEngine
ValuEngine upgraded shares of Park Sterling Corporation (NASDAQ:PSTB) from a hold rating to a buy rating in a research report sent to investors on Thursday, July 27th.
PSTB has been the topic of a number of other research reports. Zacks Investment Research lowered Park Sterling Corporation from a buy rating to a hold rating in a research note on Wednesday, May 17th. BidaskClub lowered Park Sterling Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $10.38.
Shares of Park Sterling Corporation (PSTB) opened at 11.70 on Thursday. Park Sterling Corporation has a 1-year low of $7.50 and a 1-year high of $12.72. The company has a market cap of $618.98 million, a price-to-earnings ratio of 22.50 and a beta of 0.83. The company’s 50-day moving average is $11.74 and its 200 day moving average is $11.81.
Park Sterling Corporation (NASDAQ:PSTB) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Park Sterling Corporation had a return on equity of 8.67% and a net margin of 19.00%. The business had revenue of $34.03 million during the quarter, compared to analysts’ expectations of $33.30 million. During the same quarter last year, the business posted $0.12 earnings per share. Equities analysts anticipate that Park Sterling Corporation will post $0.61 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, August 7th. This represents a $0.16 annualized dividend and a dividend yield of 1.37%. Park Sterling Corporation’s payout ratio is currently 30.77%.
Large investors have recently bought and sold shares of the company. Suntrust Banks Inc. acquired a new stake in Park Sterling Corporation during the first quarter valued at about $131,000. Karp Capital Management Corp acquired a new stake in Park Sterling Corporation during the first quarter valued at about $145,000. Legal & General Group Plc increased its stake in Park Sterling Corporation by 3.9% in the second quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock valued at $151,000 after buying an additional 474 shares in the last quarter. Teza Capital Management LLC acquired a new stake in Park Sterling Corporation during the first quarter valued at about $162,000. Finally, Principal Financial Group Inc. increased its stake in Park Sterling Corporation by 9.3% in the second quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock valued at $223,000 after buying an additional 1,598 shares in the last quarter. Institutional investors own 82.19% of the company’s stock.
About Park Sterling Corporation
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.
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