Renaissance Technologies LLC cut its stake in shares of Park Sterling Corporation (NASDAQ:PSTB) by 2.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 782,123 shares of the bank’s stock after selling 21,100 shares during the period. Renaissance Technologies LLC owned 1.47% of Park Sterling Corporation worth $9,628,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Park Sterling Corporation by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,032,148 shares of the bank’s stock valued at $37,326,000 after buying an additional 194,494 shares during the period. Mendon Capital Advisors Corp boosted its position in Park Sterling Corporation by 41.2% in the first quarter. Mendon Capital Advisors Corp now owns 2,920,738 shares of the bank’s stock valued at $35,955,000 after buying an additional 851,837 shares during the period. Vanguard Group Inc. boosted its position in Park Sterling Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,990,366 shares of the bank’s stock valued at $24,501,000 after buying an additional 114,256 shares during the period. RMB Capital Management LLC boosted its position in Park Sterling Corporation by 45.1% in the first quarter. RMB Capital Management LLC now owns 1,803,494 shares of the bank’s stock valued at $22,201,000 after buying an additional 560,916 shares during the period. Finally, Wellington Management Group LLP boosted its position in Park Sterling Corporation 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 during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.
Shares of Park Sterling Corporation (PSTB) traded up 0.52% during mid-day trading on Wednesday, reaching $11.51. 74,414 shares of the company were exchanged. The firm has a 50-day moving average price of $11.70 and a 200 day moving average price of $11.84. Park Sterling Corporation has a 12 month low of $7.50 and a 12 month high of $12.72. The stock has a market capitalization of $608.93 million, a P/E ratio of 22.13 and a beta of 0.83.
Park Sterling Corporation (NASDAQ:PSTB) last posted its quarterly earnings results on Thursday, July 27th. The bank reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. The business had revenue of $34.03 million during the quarter, compared to the consensus estimate of $33.30 million. Park Sterling Corporation had a net margin of 19.00% and a return on equity of 8.67%. During the same period in the previous year, the firm posted $0.12 earnings per share. Equities research analysts anticipate that Park Sterling Corporation will post $0.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, August 7th. Park Sterling Corporation’s dividend payout ratio (DPR) is 30.77%.
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Several research analysts have recently issued reports on PSTB shares. Brean Capital reiterated a “hold” rating on shares of Park Sterling Corporation in a report on Thursday, August 3rd. ValuEngine upgraded shares of Park Sterling Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. BidaskClub cut shares of Park Sterling Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Park Sterling Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.38.
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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