Park Sterling Corporation (PSTB) Receives Consensus Rating of “Hold” from Analysts
Park Sterling Corporation (NASDAQ:PSTB) has been given an average rating of “Hold” by the ten ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $10.63.
Several brokerages recently weighed in on PSTB. BidaskClub upgraded shares of Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Park Sterling Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Friday, August 18th. Brean Capital restated a “hold” rating on shares of Park Sterling Corporation in a report on Thursday, August 3rd. Finally, ValuEngine upgraded shares of Park Sterling Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th.
Park Sterling Corporation (NASDAQ:PSTB) traded up 0.63% on Friday, reaching $11.11. 312,794 shares of the company’s stock traded hands. The firm has a market capitalization of $587.76 million, a PE ratio of 21.37 and a beta of 0.83. Park Sterling Corporation has a 52-week low of $7.50 and a 52-week high of $12.72. The firm’s 50 day moving average price is $11.45 and its 200 day moving average price is $11.77.
Park Sterling Corporation (NASDAQ:PSTB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Park Sterling Corporation had a net margin of 19.00% and a return on equity of 8.67%. The business had revenue of $34.03 million for the quarter, compared to analyst estimates of $33.30 million. During the same period in the prior year, the business posted $0.12 earnings per share. On average, analysts predict that Park Sterling Corporation will post $0.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.16 annualized dividend and a yield of 1.44%. Park Sterling Corporation’s dividend payout ratio is currently 30.77%.
A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in Park Sterling Corporation by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,086,710 shares of the bank’s stock valued at $36,670,000 after purchasing an additional 54,562 shares in the last quarter. Mendon Capital Advisors Corp increased its stake in Park Sterling Corporation by 41.2% in the first quarter. Mendon Capital Advisors Corp now owns 2,920,738 shares of the bank’s stock valued at $35,955,000 after purchasing an additional 851,837 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Park Sterling Corporation by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,386,320 shares of the bank’s stock valued at $28,350,000 after purchasing an additional 53,186 shares in the last quarter. Vanguard Group Inc. increased its stake in Park Sterling Corporation by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,143,632 shares of the bank’s stock valued at $25,466,000 after purchasing an additional 153,266 shares in the last quarter. Finally, RMB Capital Management LLC increased its stake in Park Sterling Corporation by 45.1% in the first quarter. RMB Capital Management LLC now owns 1,803,494 shares of the bank’s stock valued at $22,201,000 after purchasing an additional 560,916 shares in the last quarter. 82.20% of the stock is owned by hedge funds and other institutional investors.
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Park Sterling Corporation Company Profile
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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