Park Sterling Corporation (PSTB) Receives Consensus Rating of “Hold” from Analysts

Shares of Park Sterling Corporation (NASDAQ:PSTB) have received an average rating of “Hold” from the eight research firms that are covering the firm. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.38.

A number of equities analysts recently weighed in on PSTB shares. Piper Jaffray Companies started coverage on shares of Park Sterling Corporation in a research report on Wednesday, November 16th. They issued a “neutral” rating and a $9.50 price objective on the stock. Zacks Investment Research upgraded shares of Park Sterling Corporation from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Wednesday, December 28th. Keefe, Bruyette & Woods lowered shares of Park Sterling Corporation from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $9.50 to $10.50 in a research report on Tuesday, November 29th. Hovde Group lowered shares of Park Sterling Corporation from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $9.00 to $9.50 in a research report on Monday, October 31st. Finally, Sandler O’Neill lowered shares of Park Sterling Corporation from a “buy” rating to a “hold” rating in a research report on Friday, November 4th.

Shares of Park Sterling Corporation (NASDAQ:PSTB) opened at 11.93 on Friday. Park Sterling Corporation has a 12-month low of $5.90 and a 12-month high of $12.18. The stock’s 50 day moving average is $11.25 and its 200-day moving average is $9.39. The stock has a market cap of $628.83 million, a price-to-earnings ratio of 31.64 and a beta of 0.90.

Park Sterling Corporation (NASDAQ:PSTB) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Park Sterling Corporation had a net margin of 14.16% and a return on equity of 7.68%. During the same period last year, the business posted $0.11 EPS. Equities analysts anticipate that Park Sterling Corporation will post $0.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Stockholders of record on Tuesday, February 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, February 3rd. Park Sterling Corporation’s dividend payout ratio (DPR) is presently 42.11%.

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In other news, President Bryan F. Kennedy III sold 112,812 shares of Park Sterling Corporation stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $9.52, for a total transaction of $1,073,970.24. Following the completion of the transaction, the president now owns 354,200 shares of the company’s stock, valued at approximately $3,371,984. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Bryan F. Kennedy III sold 20,000 shares of Park Sterling Corporation stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $11.55, for a total value of $231,000.00. Following the transaction, the president now directly owns 143,515 shares of the company’s stock, valued at approximately $1,657,598.25. The disclosure for this sale can be found here. Insiders have sold a total of 163,812 shares of company stock valued at $1,610,370 in the last ninety days. Corporate insiders own 7.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PSTB. Banc Funds Co. LLC increased its position in shares of Park Sterling Corporation by 1.4% in the third quarter. Banc Funds Co. LLC now owns 3,079,994 shares of the company’s stock valued at $25,010,000 after buying an additional 43,639 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Park Sterling Corporation by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,837,654 shares of the company’s stock valued at $30,618,000 after buying an additional 218,820 shares during the last quarter. RMB Capital Management LLC increased its position in shares of Park Sterling Corporation by 63.4% in the third quarter. RMB Capital Management LLC now owns 2,267,547 shares of the company’s stock valued at $18,412,000 after buying an additional 880,170 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Park Sterling Corporation during the third quarter valued at $18,010,000. Finally, BlackRock Group LTD purchased a new position in shares of Park Sterling Corporation during the third quarter valued at $11,043,000. 80.19% of the stock is owned by hedge funds and other institutional investors.

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 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.

5 Day Chart for NASDAQ:PSTB

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