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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Park Sterling Corporation (NASDAQ:PSTB)

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