Rating Change: Will Keefe Bruyette & Woods Downgrade Harm Park Sterling (NASDAQ:PSTB) Stock Price Today?

November 29, 2016 - By Marie Mckinney

Rating Change: Will Keefe Bruyette & Woods Downgrade Harm Park Sterling (NASDAQ:PSTB) Stock Price Today?

Park Sterling (NASDAQ:PSTB) Downgrade

Keefe Bruyette & Woods downgraded the shares of Park Sterling (NASDAQ:PSTB) from a “Outperform” rating to a “Market Perform” rating in a a report sent to investors on Tuesday, 29 November.

Park Sterling Corp (NASDAQ:PSTB) Ratings Coverage

Out of 6 analysts covering Park Sterling (NASDAQ:PSTB), 0 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 0 are positive. $9.50 is the highest target while $7.50 is the lowest. The $9.50 average target is -4.04% below today’s ($9.9) stock price. Park Sterling has been the topic of 9 analyst reports since December 2, 2015 according to StockzIntelligence Inc. On Friday, November 4 the stock rating was downgraded by Sandler O’Neill to “Hold”. Piper Jaffray initiated the shares of PSTB in a report on Wednesday, November 16 with “Neutral” rating. As per Monday, May 2, the company rating was maintained by Hovde Group. The rating was maintained by Hovde Group on Monday, February 8 with “Outperform”. Hovde Group maintained Park Sterling Corp (NASDAQ:PSTB) rating on Wednesday, January 13. Hovde Group has “Outperform” rating and $9 price target. As per Monday, October 31, the company rating was downgraded by Hovde Group. The rating was downgraded by Raymond James to “Mkt Perform” on Thursday, October 6. Stephens initiated Park Sterling Corp (NASDAQ:PSTB) on Wednesday, December 2 with “Equal-Weight” rating.

About 183,445 shares traded hands. Park Sterling Corp (NASDAQ:PSTB) has risen 39.58% since April 26, 2016 and is uptrending. It has outperformed by 34.32% the S&P500.

Analysts await Park Sterling Corp (NASDAQ:PSTB) to report earnings on January, 26. They expect $0.14 EPS, up 27.27% or $0.03 from last year’s $0.11 per share. PSTB’s profit will be $7.25 million for 17.68 P/E if the $0.14 EPS becomes a reality. After $0.14 actual EPS reported by Park Sterling Corp for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.2 in 2016 Q2. Its down 0.86, from 2.06 in 2016Q1. The ratio is negative, as 3 funds sold all Park Sterling Corp shares owned while 28 reduced positions. 18 funds bought stakes while 46 increased positions. They now own 41.11 million shares or 4.13% more from 39.48 million shares in 2016Q1.

Ellington Management Group Incorporated Ltd Liability Com has 15,200 shares for 0.15% of their US portfolio. Glenmede Company Na owns 387 shares or 0% of their US portfolio. The Massachusetts-based Polaris Capital Mgmt Ltd Liability has invested 0.03% in Park Sterling Corp (NASDAQ:PSTB). Kennedy Management, a Missouri-based fund reported 769,309 shares. Barclays Public Limited Company owns 82 shares or 0% of their US portfolio. Amer Group Inc holds 0% or 29,680 shares in its portfolio. The Oklahoma-based Pinnacle Holdg Ltd has invested 0% in Park Sterling Corp (NASDAQ:PSTB). Millennium Mgmt Ltd Co last reported 195,852 shares in the company. Mesirow Fincl Management last reported 47,965 shares in the company. The Ohio-based Elizabeth Park Cap Advsr has invested 0.01% in Park Sterling Corp (NASDAQ:PSTB). Financial Bank Of Montreal Can holds 0% or 17,625 shares in its portfolio. Monarch Ptnrs Asset Mgmt Limited Liability reported 42,650 shares or 0.03% of all its holdings. Price T Rowe Assocs Md has 0.01% invested in the company for 5.09 million shares. Brandywine Invest Limited Company has 0% invested in the company for 18,760 shares. Mendon Capital Advsrs Corporation holds 961,310 shares or 0.7% of its portfolio.

Insider Transactions: Since August 24, 2016, the stock had 1 buy, and 0 insider sales for $528 net activity. $528 worth of shares were bought by HARTUNG PATRICIA C on Wednesday, August 24.

Park Sterling Corporation is a holding firm for Park Sterling Bank . The company has a market cap of $512.78 million. The Bank is a North Carolina-chartered commercial nonmember bank. It has a 27.31 P/E ratio. The Firm provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and clients doing business or residing within its target markets.

According to Zacks Investment Research, “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.”

PSTB Company Profile

Park Sterling Corporation, incorporated on October 7, 2010, is a holding firm for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Firm provides banking services to small and medium-sized businesses, real estate owners, residential builders, institutions, professionals and clients doing business or residing within its target markets. It provides a range of banking products, including personal, business and non-profit checking accounts, interest on lawyer trust accounts (IOLTA), individual retirement accounts, business and personal money market accounts, time deposits, overdraft protection, safe deposit boxes, and online and mobile banking. The Company’s wealth management activities include investment management, private banking, personal trust and investment brokerage services. The Company’s cash management activities include remote deposit capture, lockbox services, sweep accounts, purchasing cards, automated clearing house (ACH) and wire payments. The Company’s capital markets activities include interest rate and currency risk management products, loan syndications and debt placements.

More important recent Park Sterling Corp (NASDAQ:PSTB) news were published by: Charlotteobserver.com which released: “Charlotte’s Park Sterling Corp. to buy Virginia bank” on October 01, 2015, also Charlotteobserver.com published article titled: “Former Wachovia executive to become CFO at Park Sterling”, Charlotteobserver.com published: “Park Sterling completes acquisition of First Capital Bancorp.” on January 04, 2016. More interesting news about Park Sterling Corp (NASDAQ:PSTB) was released by: Charlotteobserver.com and their article: “Charlotte’s Park Sterling says 3Q profit up 32 percent on acquisition” with publication date: October 27, 2016.

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