The stock of Park Sterling Corp (NASDAQ:PSTB) hit a new 52-week high and has $10.38 target or 4.00% above today’s $9.98 share price. The 6 months bullish chart indicates low risk for the $541.98 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $10.38 price target is reached, the company will be worth $21.68 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. The stock decreased 2.82% or $0.29 during the last trading session, hitting $9.98. About 203,522 shares traded hands. Park Sterling Corp (NASDAQ:PSTB) has risen 46.50% since April 25, 2016 and is uptrending. It has outperformed by 40.49% 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 $7.60M for 17.82 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. The firm has “Market Perform” rating by Hovde Group given on Monday, October 31. The rating was downgraded by Sandler O’Neill to “Hold” on Friday, November 4. Stephens initiated Park Sterling Corp (NASDAQ:PSTB) on Wednesday, December 2 with “Equal-Weight” rating. The company was downgraded on Thursday, October 6 by Raymond James. On Wednesday, January 13 the stock rating was maintained by Hovde Group with “Outperform”. The firm earned “Neutral” rating on Wednesday, November 16 by Piper Jaffray. The firm earned “Outperform” rating on Monday, May 2 by Hovde Group. The firm has “Outperform” rating by Hovde Group given on Monday, February 8.
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 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.
Boston, a Massachusetts-based fund reported 201,814 shares. Strs Ohio, a Ohio-based fund reported 18,300 shares. Moreover, Fdx Advsr Incorporated has 0.01% invested in Park Sterling Corp (NASDAQ:PSTB) for 30,864 shares. Rhumbline Advisers holds 63,222 shares or 0% of its portfolio. Rmb Mgmt Ltd holds 0.51% of its portfolio in Park Sterling Corp (NASDAQ:PSTB) for 1.39 million shares. Deutsche Commercial Bank Ag, a Germany-based fund reported 185,504 shares. Dimensional Fund Advisors Limited Partnership holds 0.01% of its portfolio in Park Sterling Corp (NASDAQ:PSTB) for 2.51 million shares. Mendon Cap Advisors last reported 0.7% of its portfolio in the stock. State Common Retirement Fund holds 0% of its portfolio in Park Sterling Corp (NASDAQ:PSTB) for 98,260 shares. Wellington Group Llp owns 672,688 shares or 0% of their US portfolio. Cna Corporation has 88,466 shares for 0.16% of their US portfolio. Trustmark Bancorp Tru Department has 30,022 shares for 0.03% of their US portfolio. Blackrock Limited Company holds 0% of its portfolio in Park Sterling Corp (NASDAQ:PSTB) for 26,280 shares. Deprince Race And Zollo has 0.17% invested in the company for 1.18 million shares. Credit Suisse Ag holds 0% or 35,881 shares in its portfolio.
Insider Transactions: Since August 24, 2016, the stock had 1 insider purchase, and 0 selling transactions for $528 net activity. HARTUNG PATRICIA C had bought 65 shares worth $528.
More notable 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 with their article: “Former Wachovia executive to become CFO at Park Sterling” published on February 05, 2016, Charlotteobserver.com published: “Park Sterling completes acquisition of First Capital Bancorp.” on January 04, 2016. More interesting news about Park Sterling Corp (NASDAQ:PSTB) were released by: Charlotteobserver.com and their article: “Charlotte’s Park Sterling says 3Q profit up 32 percent on acquisition” published on October 27, 2016 as well as Blogs.Wsj.com‘s news article titled: “CFO Moves: TE Connectivity, Xcel Energy, Park Sterling” with publication date: February 05, 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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