Published On: Fri, Sep 23rd, 2016

Park Sterling Corp. (PSTB) Upgraded by Zacks Investment Research to Hold

Park Sterling Corp. (NASDAQ:PSTB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Park Sterling Corp, formerly known as Park Sterling Bank, is engaged in providing banking products and services. The Bank offers personal and commercial banking products including regular checking, sterling checking, sterling money market, sterling savings, certificates of deposit and IRA’s, loans, Visa debit cards, online banking and bill pay, IOLTA checking, sweep accounts, merchant capture, merchant point of sale and various other products and services. Park Sterling Corp is headquartered in Charlotte, North Carolina. “
Separately, Stephens raised shares of Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Park Sterling Corp. has a consensus rating of “Buy” and an average target price of $8.00.

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Shares of Park Sterling Corp. (NASDAQ:PSTB) opened at 8.28 on Friday. The firm has a market capitalization of $433.57 million, a price-to-earnings ratio of 23.86 and a beta of 1.05. Park Sterling Corp. has a 12-month low of $5.90 and a 12-month high of $8.59. The firm has a 50-day moving average of $8.21 and a 200 day moving average of $7.39.
Park Sterling Corp. (NASDAQ:PSTB) last released its earnings results on Thursday, July 28th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a net margin of 13.58% and a return on equity of 7.23%. During the same period last year, the company posted $0.10 EPS. On average, equities research analysts expect that Park Sterling Corp. will post $0.51 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Park Sterling Corp. during the second quarter worth $125,000. Dalton Greiner Hartman Maher & Co. raised its stake in Park Sterling Corp. by 1.4% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 374,871 shares of the company’s stock worth $2,658,000 after buying an additional 5,202 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Park Sterling Corp. by 20.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 34,024 shares of the company’s stock worth $227,000 after buying an additional 5,826 shares during the last quarter. Renaissance Technologies LLC raised its stake in Park Sterling Corp. by 14.9% in the first quarter. Renaissance Technologies LLC now owns 251,273 shares of the company’s stock worth $1,676,000 after buying an additional 32,550 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Park Sterling Corp. by 10.1% in the first quarter. Geode Capital Management LLC now owns 290,846 shares of the company’s stock worth $1,939,000 after buying an additional 26,746 shares during the last quarter. 77.24% of the stock is currently owned by hedge funds and other institutional investors.
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 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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