Zacks: Brokerages Set $9.00 Price Target for Park Sterling Corp. (PSTB)
Park Sterling Corp. (NASDAQ:PSTB) has earned a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. Park Sterling Corp.’s rating score has declined by 25.6% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus target price of $9.00 for the company and are forecasting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given Park Sterling Corp. an industry rank of 109 out of 265 based on the ratings given to related companies.
PSTB has been the subject of a number of recent analyst reports. Raymond James Financial Inc. cut Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Zacks Investment Research upgraded Park Sterling Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. ING Group cut Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Finally, Stephens upgraded Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 5th.
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Several large investors have recently modified their holdings of the company. Airain ltd purchased a new stake in shares of Park Sterling Corp. during the second quarter valued at $111,000. Bank of Montreal Can purchased a new stake in shares of Park Sterling Corp. during the second quarter valued at $125,000. Bremer Trust National Association boosted its stake in shares of 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 in the last quarter. BlackRock Advisors LLC boosted its stake 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 valued at $186,000 after buying an additional 945 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Park Sterling Corp. by 12.3% in the second quarter. American International Group Inc. now owns 29,680 shares of the company’s stock valued at $210,000 after buying an additional 3,249 shares in the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.
Shares of Park Sterling Corp. (NASDAQ:PSTB) traded down 0.85% during trading on Tuesday, hitting $8.13. The stock had a trading volume of 9,634 shares. Park Sterling Corp. has a 12 month low of $5.90 and a 12 month high of $8.59. The stock has a 50-day moving average price of $8.24 and a 200 day moving average price of $7.54. The company has a market cap of $425.72 million, a P/E ratio of 23.43 and a beta of 0.92.
Park Sterling Corp. (NASDAQ:PSTB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a return on equity of 7.23% and a net margin of 13.58%. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities analysts expect that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.
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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