Stephens Lowers Park Sterling Corporation (PSTB) to Equal Weight

Park Sterling Corporation (NASDAQ:PSTB) was downgraded by equities research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Friday, October 27th, Marketbeat reports.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Brean Capital reissued a “hold” rating on shares of Park Sterling Corporation in a research note on Friday, July 28th. Zacks Investment Research raised shares of Park Sterling Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Friday, August 18th. Finally, ValuEngine upgraded Park Sterling Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of Park Sterling Corporation (NASDAQ:PSTB) traded up $0.11 during mid-day trading on Friday, reaching $12.36. 59,300 shares of the company traded hands, compared to its average volume of 238,707. Park Sterling Corporation has a 12-month low of $9.43 and a 12-month high of $13.07. The firm has a market cap of $660.12, a P/E ratio of 19.76 and a beta of 0.85. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.17.

Park Sterling Corporation (NASDAQ:PSTB) last announced its earnings results on Thursday, October 26th. The bank reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Park Sterling Corporation had a net margin of 20.24% and a return on equity of 9.08%. The firm had revenue of $33.21 million during the quarter, compared to the consensus estimate of $33.20 million. During the same quarter in the previous year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. sell-side analysts predict that Park Sterling Corporation will post 0.61 EPS for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc grew its holdings in shares of Park Sterling Corporation by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock worth $151,000 after purchasing an additional 474 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Park Sterling Corporation by 3.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,207 shares of the bank’s stock worth $228,000 after purchasing an additional 552 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Park Sterling Corporation by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,085 shares of the bank’s stock worth $2,081,000 after purchasing an additional 1,007 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Park Sterling Corporation by 9.3% during the 2nd quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock worth $223,000 after purchasing an additional 1,598 shares during the period. Finally, ELCO Management Co. LLC grew its holdings in shares of Park Sterling Corporation by 2.5% during the 2nd quarter. ELCO Management Co. LLC now owns 70,166 shares of the bank’s stock worth $833,000 after purchasing an additional 1,721 shares during the period. Institutional investors own 81.57% of the company’s stock.

About Park Sterling Corporation

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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