November 29, 2016 - By Louis Casey
KBW cut Park Sterling (NASDAQ:PSTB)‘s stock to a “Mkt Perform” rating from a “Outperform”. The rating change was issued to investors and clients in a analysts report today.
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 -3.85% below today’s ($9.88) stock price. Park Sterling has been the topic of 9 analyst reports since December 2, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Hovde Group given on Wednesday, January 13. The rating was downgraded by Sandler O’Neill on Friday, November 4 to “Hold”. The firm has “Market Perform” rating given on Monday, October 31 by Hovde Group. The firm earned “Neutral” rating on Wednesday, November 16 by Piper Jaffray. Raymond James downgraded the shares of PSTB in a report on Thursday, October 6 to “Mkt Perform” rating. The firm has “Outperform” rating by Hovde Group given on Monday, February 8. The rating was maintained by Hovde Group with “Outperform” on Monday, May 2. The rating was initiated by Stephens with “Equal-Weight” on Wednesday, December 2.
The stock decreased 1.00% or $0.1 on November 29, hitting $9.88. About 344,989 shares traded hands or 45.13% up from the average. 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 $7.25M for 17.64 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 worsened, 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.
Kennedy Capital Management has invested 0.11% of its portfolio in Park Sterling Corp (NASDAQ:PSTB). Schwab Charles Inv Mngmt, a California-based fund reported 136,497 shares. Lsv Asset Mgmt accumulated 0% or 7,200 shares. The Florida-based Raymond James Fincl Incorporated has invested 0% in Park Sterling Corp (NASDAQ:PSTB). The Pennsylvania-based Nationwide Fund has invested 0% in Park Sterling Corp (NASDAQ:PSTB). Thompson Siegel Walmsley Limited Liability Corporation reported 394 shares or 0% of all its holdings. Vanguard Gp accumulated 0% or 1.76 million shares. Plante Moran Fincl Advsrs Limited Liability Co reported 271 shares or 0% of all its holdings. The Washington-based Parametric Portfolio Assoc has invested 0% in Park Sterling Corp (NASDAQ:PSTB). Banc Funds Ltd Limited Liability Company, a Illinois-based fund reported 3.04 million shares. Denver Limited Liability Co last reported 0% of its portfolio in the stock. Allianz Asset Mgmt Ag has invested 0% of its portfolio in Park Sterling Corp (NASDAQ:PSTB). Rmb Cap Mngmt Limited Liability accumulated 1.39 million shares or 0.51% of the stock. Brown Brothers Harriman & accumulated 16,500 shares or 0% of the stock. Metropolitan Life Insur Communications last reported 0% of its portfolio in the stock.
Insider Transactions: Since August 24, 2016, the stock had 1 buy, and 0 insider sales for $528 net activity. HARTUNG PATRICIA C bought $528 worth of stock or 65 shares.
Park Sterling Corporation is a holding firm for Park Sterling Bank . The company has a market cap of $511.75 million. The Bank is a North Carolina-chartered commercial nonmember bank. It has a 27.26 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.”
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 recent Park Sterling Corp (NASDAQ:PSTB) news were published by: Charlotteobserver.com which released: “Former Wachovia executive to become CFO at Park Sterling” on February 05, 2016. Also Charlotteobserver.com published the news titled: “Park Sterling completes acquisition of First Capital Bancorp.” on January 04, 2016. Charlotteobserver.com‘s news article titled: “Charlotte’s Park Sterling says 3Q profit up 32 percent on acquisition” with publication date: October 27, 2016 was also an interesting one.
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By Louis Casey