Rating Watching: Is Park Sterling (NASDAQ:PSTB) Worth Your Time After Placed Keefe Bruyette’s Downgrade?

November 29, 2016 - By Dolores Ford

Rating Watching: Is Park Sterling (NASDAQ:PSTB) Worth Your Time After Placed Keefe Bruyette's Downgrade?

Park Sterling (NASDAQ:PSTB) Downgrade

Park Sterling (NASDAQ:PSTB)‘s stock was downgraded to a “Mkt Perform” by professional analysts at Keefe Bruyette. PSTB’s “Outperform” rating is no longer valid.

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 -4.71% below today’s ($9.97) stock price. Park Sterling has been the topic of 9 analyst reports since December 2, 2015 according to StockzIntelligence Inc. On Wednesday, December 2 the stock rating was initiated by Stephens with “Equal-Weight”. The stock of Park Sterling Corp (NASDAQ:PSTB) has “Outperform” rating given on Monday, February 8 by Hovde Group. Raymond James downgraded Park Sterling Corp (NASDAQ:PSTB) on Thursday, October 6 to “Mkt Perform” rating. Hovde Group downgraded Park Sterling Corp (NASDAQ:PSTB) rating on Monday, October 31. Hovde Group has “Market Perform” rating and $9.50 price target. The stock has “Outperform” rating given by Hovde Group on Wednesday, January 13. The firm earned “Neutral” rating on Wednesday, November 16 by Piper Jaffray. Sandler O’Neill downgraded Park Sterling Corp (NASDAQ:PSTB) on Friday, November 4 to “Hold” rating. Hovde Group maintained it with “Outperform” rating and $8.25 target price in Monday, May 2 report.

About 57,831 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 17.80 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 Q2 2016. 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.

Forward Limited Liability owns 107,929 shares or 0.06% of their US portfolio. Northern Tru Corporation reported 556,418 shares or 0% of all its holdings. Td Asset Management holds 40,400 shares or 0% of its portfolio. Polaris Capital Mgmt Ltd Llc has 0.03% invested in the company for 51,438 shares. Trustmark Bank & Trust Tru Department accumulated 30,022 shares or 0.03% of the stock. Wellington Mngmt Gp Limited Liability Partnership has 0% invested in the company for 672,688 shares. Cetera Advisor Ntwk Ltd Liability Corporation reported 143,005 shares or 0.06% of all its holdings. Franklin Street Nc reported 15,384 shares or 0.02% of all its holdings. Phocas has 880,564 shares for 0.46% of their US portfolio. Intll Gru Inc holds 29,680 shares or 0% of its portfolio. Raymond James Financial Svcs Inc reported 15,125 shares or 0% of all its holdings. Moreover, Arrowstreet Ltd Partnership has 0% invested in Park Sterling Corp (NASDAQ:PSTB) for 42,201 shares. Blackrock Institutional Com Na owns 552,478 shares or 0% of their US portfolio. Renaissance Technology Ltd Limited Liability Company accumulated 0% or 348,873 shares. Salzhauer Michael, a New York-based fund reported 17,670 shares.

Insider Transactions: Since August 24, 2016, the stock had 1 buying transaction, and 0 insider sales for $528 net activity. HARTUNG PATRICIA C bought $528 worth of Park Sterling Corp (NASDAQ:PSTB) on Wednesday, August 24.

Park Sterling Corporation is a holding firm for Park Sterling Bank . The company has a market cap of $516.41 million. The Bank is a North Carolina-chartered commercial nonmember bank. It has a 27.5 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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