Loews Corp continued to hold its stake in Park Sterling Corp (NASDAQ:PSTB) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,615 shares of the bank’s stock at the end of the first quarter. Loews Corp’s holdings in Park Sterling Corp were worth $241,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Park Sterling Corp by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,837,654 shares of the bank’s stock worth $30,618,000 after buying an additional 218,820 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Park Sterling Corp during the third quarter valued at about $18,010,000. Wellington Management Group LLP increased its position in shares of Park Sterling Corp by 1.9% in the first quarter. Wellington Management Group LLP now owns 1,202,065 shares of the bank’s stock valued at $14,797,000 after buying an additional 21,972 shares in the last quarter. Phocas Financial Corp. increased its position in shares of Park Sterling Corp by 6.7% in the third quarter. Phocas Financial Corp. now owns 939,268 shares of the bank’s stock valued at $7,627,000 after buying an additional 58,704 shares in the last quarter. Finally, Advisory Research Inc. increased its position in shares of Park Sterling Corp by 21.7% in the fourth quarter. Advisory Research Inc. now owns 913,952 shares of the bank’s stock valued at $9,862,000 after buying an additional 163,033 shares in the last quarter. Institutional investors own 80.19% of the company’s stock.
Park Sterling Corp (NASDAQ PSTB) opened at 11.63 on Wednesday. Park Sterling Corp has a 12 month low of $6.68 and a 12 month high of $12.72. The firm has a market capitalization of $613.02 million, a P/E ratio of 30.61 and a beta of 0.90. The company’s 50 day moving average price is $11.89 and its 200 day moving average price is $11.43.
Park Sterling Corp (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $32.53 million for the quarter, compared to analyst estimates of $31.95 million. Park Sterling Corp had a net margin of 14.16% and a return on equity of 7.68%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. Analysts anticipate that Park Sterling Corp will post $0.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Tuesday, May 9th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, May 5th. This represents a $0.16 annualized dividend and a yield of 1.38%. Park Sterling Corp’s dividend payout ratio is 42.11%.
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PSTB has been the subject of several research reports. ValuEngine upgraded Park Sterling Corp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Park Sterling Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Finally, Brean Capital initiated coverage on Park Sterling Corp in a research report on Friday, February 24th. They set a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.38.
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 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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