Today, Park Sterling Corp. (PSTB) Lowered by Keefe, Bruyette & Woods to “Market Perform”

Today, Park Sterling Corp. (PSTB) Lowered by Keefe, Bruyette & Woods to “Market Perform”

Park Sterling Corp. (NASDAQ:PSTB) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, The Fly reports.

PSTB has been the subject of several other reports. Piper Jaffray Cos. assumed coverage on shares of Park Sterling Corp. in a research report on Wednesday, November 16th. They issued a “neutral” rating and a $9.50 target price for the company. Hovde Group downgraded shares of Park Sterling Corp. from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $9.00 to $9.50 in a research report on Monday, October 31st. Sandler O’Neill downgraded shares of Park Sterling Corp. from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Zacks Investment Research raised shares of Park Sterling Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, ING Group downgraded shares of Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.55.

Park Sterling Corp. (NASDAQ:PSTB) opened at 9.98 on Tuesday. The firm’s 50-day moving average is $8.84 and its 200 day moving average is $8.01. The firm has a market capitalization of $522.24 million, a price-to-earnings ratio of 27.57 and a beta of 0.84. Park Sterling Corp. has a one year low of $5.90 and a one year high of $10.36.

Park Sterling Corp. (NASDAQ:PSTB) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Park Sterling Corp. had a net margin of 13.97% and a return on equity of 7.46%. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts forecast that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, November 4th. Park Sterling Corp.’s payout ratio is 43.24%.

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Park Sterling Corp. during the third quarter worth $18,010,000. BlackRock Group LTD purchased a new stake in shares of Park Sterling Corp. during the third quarter worth $11,043,000. RMB Capital Management LLC boosted its stake in shares of Park Sterling Corp. by 63.4% in the third quarter. RMB Capital Management LLC now owns 2,267,547 shares of the company’s stock worth $18,412,000 after buying an additional 880,170 shares during the last quarter. APG Asset Management N.V. purchased a new stake in shares of Park Sterling Corp. during the second quarter worth $1,564,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Park Sterling Corp. by 4.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,296,568 shares of the company’s stock worth $43,008,000 after buying an additional 207,371 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

About Park Sterling Corp.

Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Company provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.

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Today, Park Sterling Corp. (PSTB) Lowered by Keefe, Bruyette & Woods to “Market Perform”

Today, Park Sterling Corp. (PSTB) Lowered by Keefe, Bruyette & Woods to “Market Perform”

Park Sterling Corp. (NASDAQ:PSTB) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, The Fly reports.

PSTB has been the subject of several other reports. Piper Jaffray Cos. assumed coverage on shares of Park Sterling Corp. in a research report on Wednesday, November 16th. They issued a “neutral” rating and a $9.50 target price for the company. Hovde Group downgraded shares of Park Sterling Corp. from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $9.00 to $9.50 in a research report on Monday, October 31st. Sandler O’Neill downgraded shares of Park Sterling Corp. from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Zacks Investment Research raised shares of Park Sterling Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, ING Group downgraded shares of Park Sterling Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.55.

Park Sterling Corp. (NASDAQ:PSTB) opened at 9.98 on Tuesday. The firm’s 50-day moving average is $8.84 and its 200 day moving average is $8.01. The firm has a market capitalization of $522.24 million, a price-to-earnings ratio of 27.57 and a beta of 0.84. Park Sterling Corp. has a one year low of $5.90 and a one year high of $10.36.

Park Sterling Corp. (NASDAQ:PSTB) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Park Sterling Corp. had a net margin of 13.97% and a return on equity of 7.46%. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts forecast that Park Sterling Corp. will post $0.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, November 4th. Park Sterling Corp.’s payout ratio is 43.24%.

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Park Sterling Corp. during the third quarter worth $18,010,000. BlackRock Group LTD purchased a new stake in shares of Park Sterling Corp. during the third quarter worth $11,043,000. RMB Capital Management LLC boosted its stake in shares of Park Sterling Corp. by 63.4% in the third quarter. RMB Capital Management LLC now owns 2,267,547 shares of the company’s stock worth $18,412,000 after buying an additional 880,170 shares during the last quarter. APG Asset Management N.V. purchased a new stake in shares of Park Sterling Corp. during the second quarter worth $1,564,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Park Sterling Corp. by 4.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,296,568 shares of the company’s stock worth $43,008,000 after buying an additional 207,371 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

About Park Sterling Corp.

Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Company provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.

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