Donald E. Pickett Sells 1,147 Shares of Park Sterling Corporation (PSTB) Stock
Park Sterling Corporation (NASDAQ:PSTB) insider Donald E. Pickett sold 1,147 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $12.58, for a total value of $14,429.26. Following the completion of the sale, the insider now directly owns 8,766 shares of the company’s stock, valued at $110,276.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Park Sterling Corporation (NASDAQ:PSTB) traded down 0.16% on Tuesday, reaching $12.57. The company had a trading volume of 70,057 shares. The company’s 50-day moving average price is $12.38 and its 200-day moving average price is $11.90. Park Sterling Corporation has a 52-week low of $8.37 and a 52-week high of $13.07. The firm has a market capitalization of $665.00 million, a price-to-earnings ratio of 24.17 and a beta of 0.84.
Park Sterling Corporation (NASDAQ:PSTB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business had revenue of $33.21 million during the quarter, compared to the consensus estimate of $33.20 million. Park Sterling Corporation had a return on equity of 9.17% and a net margin of 20.24%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. On average, analysts predict that Park Sterling Corporation will post $0.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Wednesday, November 8th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $0.16 annualized dividend and a yield of 1.27%. Park Sterling Corporation’s dividend payout ratio (DPR) is presently 28.57%.
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PSTB has been the subject of several research reports. Brean Capital reissued a “hold” rating on shares of Park Sterling Corporation in a research report on Friday. Zacks Investment Research cut Park Sterling Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine raised Park Sterling Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. BidaskClub raised Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Stephens cut Park Sterling Corporation from an “overweight” rating to an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.63.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Park Sterling Corporation by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock valued at $151,000 after purchasing an additional 474 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Park Sterling Corporation by 3.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,207 shares of the bank’s stock valued at $228,000 after purchasing an additional 552 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Park Sterling Corporation by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,085 shares of the bank’s stock valued at $2,081,000 after purchasing an additional 1,007 shares during the period. Principal Financial Group Inc. boosted its stake in Park Sterling Corporation by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock valued at $223,000 after purchasing an additional 1,598 shares during the period. Finally, ELCO Management Co. LLC boosted its stake in Park Sterling Corporation by 2.5% in the 2nd quarter. ELCO Management Co. LLC now owns 70,166 shares of the bank’s stock valued at $833,000 after purchasing an additional 1,721 shares during the period. Institutional investors and hedge funds own 82.12% 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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