Park Sterling Corporation (PSTB) Position Raised by Teachers Advisors LLC
Teachers Advisors LLC raised its stake in shares of Park Sterling Corporation (NASDAQ:PSTB) by 4.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 107,295 shares of the bank’s stock after buying an additional 4,090 shares during the period. Teachers Advisors LLC owned about 0.20% of Park Sterling Corporation worth $1,321,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. First Manhattan Co. boosted its stake in Park Sterling Corporation by 33.6% in the first quarter. First Manhattan Co. now owns 159,100 shares of the bank’s stock valued at $1,291,000 after buying an additional 40,000 shares during the last quarter. LSV Asset Management boosted its stake in Park Sterling Corporation by 325.9% in the first quarter. LSV Asset Management now owns 87,300 shares of the bank’s stock valued at $1,074,000 after buying an additional 66,800 shares during the last quarter. Boston Partners boosted its stake in Park Sterling Corporation by 2.1% in the first quarter. Boston Partners now owns 227,817 shares of the bank’s stock valued at $2,804,000 after buying an additional 4,783 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Park Sterling Corporation by 164.6% in the first quarter. Alliancebernstein L.P. now owns 59,000 shares of the bank’s stock valued at $726,000 after buying an additional 36,700 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake 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 last quarter. Institutional investors and hedge funds own 82.20% of the company’s stock.
Shares of Park Sterling Corporation (NASDAQ:PSTB) traded down 0.17% during midday trading on Monday, hitting $11.41. The stock had a trading volume of 14,804 shares. Park Sterling Corporation has a 52 week low of $7.50 and a 52 week high of $12.72. The firm has a market cap of $603.63 million, a P/E ratio of 21.94 and a beta of 0.83. The company’s 50 day moving average is $11.57 and its 200 day moving average is $11.81.
Park Sterling Corporation (NASDAQ:PSTB) last issued its earnings results on Thursday, July 27th. The bank reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Park Sterling Corporation had a return on equity of 8.67% and a net margin of 19.00%. The business had revenue of $34.03 million for the quarter, compared to the consensus estimate of $33.30 million. During the same period last year, the business posted $0.12 EPS. On average, equities analysts predict that Park Sterling Corporation will post $0.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.16 annualized dividend and a yield of 1.40%. Park Sterling Corporation’s dividend payout ratio is 30.77%.
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Several equities research analysts have commented on the company. ValuEngine upgraded Park Sterling Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. BidaskClub cut Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Brean Capital restated a “hold” rating on shares of Park Sterling Corporation in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.63.
Park Sterling Corporation Company Profile
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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