Trading Report: The Park Sterling Corp. (PSTB) gets “Market Perform” status at ING Group

The Park Sterling Corp. (PSTB) gets “Market Perform” status at ING Group

ING Group lowered shares of Park Sterling Corp. (NASDAQ:PSTB) from an outperform rating to a market perform rating in a report published on Thursday.

Several other research firms also recently commented on PSTB. Zacks Investment Research upgraded shares of Park Sterling Corp. from a sell rating to a hold rating in a research note on Tuesday, September 6th. Stephens upgraded shares of Park Sterling Corp. from an equal weight rating to an overweight rating in a research report on Tuesday, July 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $8.00.

Shares of Park Sterling Corp. (NASDAQ:PSTB) traded up 0.12% during midday trading on Thursday, reaching $8.15. The company’s stock had a trading volume of 23,159 shares. Park Sterling Corp. has a 12-month low of $5.90 and a 12-month high of $8.59. The firm has a market capitalization of $426.77 million, a P/E ratio of 23.49 and a beta of 0.92. The stock has a 50-day moving average of $8.24 and a 200 day moving average of $7.50.

Park Sterling Corp. (NASDAQ:PSTB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Park Sterling Corp. had a net margin of 13.58% and a return on equity of 7.23%. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities research analysts predict that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Airain ltd purchased a new position in shares of Park Sterling Corp. during the second quarter worth $111,000. Bank of Montreal Can purchased a new position in shares of Park Sterling Corp. during the second quarter worth $125,000. Bremer Trust National Association increased its position in shares of Park Sterling Corp. by 3.3% in the third quarter. Bremer Trust National Association now owns 17,797 shares of the company’s stock worth $145,000 after buying an additional 564 shares during the period. BlackRock Advisors LLC increased its position in shares of Park Sterling Corp. by 3.7% in the second quarter. BlackRock Advisors LLC now owns 26,280 shares of the company’s stock worth $186,000 after buying an additional 945 shares during the period. Finally, American International Group Inc. increased its position in shares of Park Sterling Corp. by 12.3% in the second quarter. American International Group Inc. now owns 29,680 shares of the company’s stock worth $210,000 after buying an additional 3,249 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

Park Sterling Corp. Company Profile

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