Park Sterling Corp. (NASDAQ:PSTB) was downgraded by analysts at ING Group from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, The Fly reports.
Several other research analysts have also recently weighed in on PSTB. Zacks Investment Research raised shares of Park Sterling Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Stephens raised shares of Park Sterling Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.00.
Park Sterling Corp. (NASDAQ:PSTB) opened at 8.12 on Thursday. The stock has a 50 day moving average price of $8.24 and a 200 day moving average price of $7.50. The company has a market capitalization of $425.20 million, a price-to-earnings ratio of 23.40 and a beta of 0.92. Park Sterling Corp. has a 52-week low of $5.90 and a 52-week high of $8.59.
Park Sterling Corp. (NASDAQ:PSTB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, topping 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 in the previous year, the company earned $0.10 EPS. Equities research analysts forecast that Park Sterling Corp. will post $0.51 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Airain ltd purchased a new position in Park Sterling Corp. during the second quarter worth approximately $111,000. Bank of Montreal Can purchased a new position in Park Sterling Corp. during the second quarter worth approximately $125,000. BlackRock Advisors LLC boosted its position in Park Sterling Corp. by 3.7% in the second quarter. BlackRock Advisors LLC now owns 26,280 shares of the company’s stock worth $186,000 after buying an additional 945 shares in the last quarter. American International Group Inc. boosted its position in Park Sterling Corp. by 12.3% in the second quarter. American International Group Inc. now owns 29,680 shares of the company’s stock worth $210,000 after buying an additional 3,249 shares in the last quarter. Finally, FDx Advisors Inc. boosted its position in Park Sterling Corp. by 10.5% in the second quarter. FDx Advisors Inc. now owns 30,864 shares of the company’s stock worth $219,000 after buying an additional 2,943 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.
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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