Park Sterling Corp. (PSTB) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Park Sterling Corp. (NASDAQ:PSTB) from a sell rating to a hold rating in a report released 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 upgraded Park Sterling Corp. from an equal weight rating to an overweight rating in a research note on Tuesday, July 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $8.00.

Shares of Park Sterling Corp. (NASDAQ:PSTB) opened at 8.12 on Friday. Park Sterling Corp. has a 52-week low of $5.90 and a 52-week high of $8.59. The company has a market cap of $425.20 million, a PE ratio of 23.40 and a beta of 1.05. The company’s 50-day moving average is $8.23 and its 200 day moving average is $7.44.

Park Sterling Corp. (NASDAQ:PSTB) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a return on equity of 7.23% and a net margin of 13.58%. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, analysts anticipate that Park Sterling Corp. will post $0.51 EPS for the current year.

A number of large investors have recently made changes to their positions in the company. Mendon Capital Advisors Corp raised its stake in shares of Park Sterling Corp. by 126.3% in the first quarter. Mendon Capital Advisors Corp now owns 1,824,827 shares of the company’s stock valued at $12,172,000 after buying an additional 1,018,518 shares during the period. Spark Investment Management LLC raised its position in Park Sterling Corp. by 148.1% in the first quarter. Spark Investment Management LLC now owns 144,900 shares of the company’s stock worth $966,000 after buying an additional 86,500 shares during the last quarter. State Street Corp raised its position in Park Sterling Corp. by 6.4% in the first quarter. State Street Corp now owns 695,719 shares of the company’s stock worth $4,640,000 after buying an additional 42,074 shares during the last quarter. First Manhattan Co. raised its position in Park Sterling Corp. by 5.4% in the first quarter. First Manhattan Co. now owns 159,100 shares of the company’s stock worth $1,061,000 after buying an additional 8,138 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Park Sterling Corp. during the second quarter worth $125,000. 77.24% of the stock is owned by 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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