GSA Capital Partners LLP boosted its stake in shares of Park Sterling Corp (NASDAQ:PSTB) by 114.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 45,259 shares of the company’s stock after buying an additional 24,106 shares during the period. GSA Capital Partners LLP owned 0.09% of Park Sterling Corp worth $488,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Banc Funds Co. LLC boosted its stake in Park Sterling Corp by 1.4% in the third quarter. Banc Funds Co. LLC now owns 3,079,994 shares of the company’s stock worth $25,010,000 after buying an additional 43,639 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Park Sterling Corp during the third quarter worth $18,010,000. Citadel Advisors LLC bought a new stake in Park Sterling Corp during the third quarter worth $376,000. Boston Partners boosted its stake in Park Sterling Corp by 7.6% in the third quarter. Boston Partners now owns 217,080 shares of the company’s stock worth $1,763,000 after buying an additional 15,266 shares during the last quarter. Finally, BlackRock Group LTD bought a new stake in Park Sterling Corp during the third quarter worth $11,043,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
Park Sterling Corp (NASDAQ:PSTB) opened at 12.13 on Monday. The stock has a market capitalization of $639.37 million, a price-to-earnings ratio of 31.92 and a beta of 0.90. Park Sterling Corp has a 12 month low of $6.41 and a 12 month high of $12.37. The stock’s 50 day moving average is $11.88 and its 200-day moving average is $10.00.
Park Sterling Corp (NASDAQ:PSTB) last issued its earnings results on Thursday, January 26th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. Park Sterling Corp had a return on equity of 7.68% and a net margin of 14.16%. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities research analysts expect that Park Sterling Corp will post $0.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Tuesday, February 7th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, February 3rd. Park Sterling Corp’s payout ratio is currently 42.11%.
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PSTB has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Park Sterling Corp from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, December 28th. Keefe, Bruyette & Woods cut shares of Park Sterling Corp from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $9.50 to $10.50 in a report on Tuesday, November 29th. Finally, Brean Capital initiated coverage on shares of Park Sterling Corp in a report on Friday, February 24th. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.38.
In other news, President Bryan F. Kennedy III sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $11.55, for a total transaction of $231,000.00. Following the completion of the sale, the president now owns 143,515 shares in the company, valued at approximately $1,657,598.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.22% of the stock is currently owned by insiders.
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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