Today’s Price Action: Park Sterling Corp Hit 52-Week High

Today's Price Action: Park Sterling Corp Hit 52 Week High

The stock of Park Sterling Corp (NASDAQ:PSTB) hit a new 52-week high and has $10.95 target or 9.00% above today’s $10.05 share price. The 6 months bullish chart indicates low risk for the $554.75M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $10.95 price target is reached, the company will be worth $49.93 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 77,991 shares traded hands. Park Sterling Corp (NASDAQ:PSTB) has risen 42.82% since April 21, 2016 and is uptrending. It has outperformed by 37.49% the S&P500.

Analysts await Park Sterling Corp (NASDAQ:PSTB) to report earnings on January, 26. They expect $0.14 earnings per share, up 27.27% or $0.03 from last year’s $0.11 per share. PSTB’s profit will be $7.73 million for 17.95 P/E if the $0.14 EPS becomes a reality. After $0.14 actual earnings per share reported by Park Sterling Corp for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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

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.”

Insitutional Activity: The institutional sentiment decreased to 1.2 in 2016 Q2. Its down 0.86, from 2.06 in 2016Q1. The ratio dropped, 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.
Alliancebernstein Limited Partnership reported 14,000 shares or 0% of all its holdings. Thompson Siegel Walmsley Llc last reported 0% of its portfolio in the stock. Panagora Asset Mngmt last reported 0.01% of its portfolio in the stock. Mesirow Financial Mgmt holds 0.02% of its portfolio in Park Sterling Corp (NASDAQ:PSTB) for 47,965 shares. The Michigan-based Plante Moran Financial Advsrs Ltd Llc has invested 0% in Park Sterling Corp (NASDAQ:PSTB). Wellington Mngmt Gp Llp holds 672,688 shares or 0% of its portfolio. Alphaone Investment Service Limited Company holds 430,301 shares or 1.13% of its portfolio. Manufacturers Life Ins The last reported 0.02% of its portfolio in the stock. Tiaa Cref Inv Mgmt Llc owns 247,297 shares or 0% of their US portfolio. Td Asset Mgmt accumulated 0% or 40,400 shares. Dimensional Fund Advisors Ltd Partnership last reported 0.01% of its portfolio in the stock. Cetera Advisor Ltd Liability last reported 0.06% of its portfolio in the stock. Voya Invest Limited Liability Company holds 0% of its portfolio in Park Sterling Corp (NASDAQ:PSTB) for 32,081 shares. Mendon Cap Advisors holds 961,310 shares or 0.7% of its portfolio. Allianz Asset Mgmt Ag accumulated 0% or 188,160 shares.

Insider Transactions: Since May 25, 2016, the stock had 1 insider purchase, and 0 insider sales for $528 net activity. $390 worth of Park Sterling Corp (NASDAQ:PSTB) shares were bought by HARTUNG PATRICIA C.

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.

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.

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