AlphaOne Investment Services LLC increased its stake in Park Sterling Corp (NASDAQ:PSTB) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 344,977 shares of the bank’s stock after buying an additional 4,072 shares during the period. Park Sterling Corp comprises about 1.1% of AlphaOne Investment Services LLC’s holdings, making the stock its 18th largest position. AlphaOne Investment Services LLC’s holdings in Park Sterling Corp were worth $4,246,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Suntrust Banks Inc. bought a new stake in shares of Park Sterling Corp during the first quarter valued at approximately $131,000. Karp Capital Management Corp bought a new stake in shares of Park Sterling Corp during the first quarter valued at approximately $145,000. Teza Capital Management LLC bought a new stake in shares of Park Sterling Corp during the first quarter valued at approximately $162,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Park Sterling Corp by 38.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,438 shares of the bank’s stock valued at $210,000 after buying an additional 5,367 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Park Sterling Corp during the first quarter valued at approximately $257,000. 80.19% of the stock is owned by institutional investors.
Shares of Park Sterling Corp (NASDAQ:PSTB) traded up 0.69% during mid-day trading on Tuesday, reaching $11.64. 76,196 shares of the company traded hands. Park Sterling Corp has a 52-week low of $6.68 and a 52-week high of $12.72. The company has a market capitalization of $613.54 million, a P/E ratio of 30.63 and a beta of 0.90. The firm’s 50 day moving average price is $11.98 and its 200-day moving average price is $11.23.
Park Sterling Corp (NASDAQ:PSTB) last released its quarterly earnings results on Thursday, April 27th. The bank reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $32.53 million for the quarter, compared to analyst estimates of $31.95 million. Park Sterling Corp had a return on equity of 7.68% and a net margin of 14.16%. Park Sterling Corp’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. Equities analysts predict that Park Sterling Corp will post $0.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Tuesday, May 9th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, May 5th. Park Sterling Corp’s dividend payout ratio (DPR) is presently 42.11%.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Park Sterling Corp from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Brean Capital assumed coverage on shares of Park Sterling Corp in a report on Friday, February 24th. They issued a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Park Sterling Corp presently has an average rating of “Hold” and a consensus price target of $10.38.
Park Sterling Corp 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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