Polaris Capital Management LLC continued to hold its stake in shares of Park Sterling Corporation (NASDAQ:PSTB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,438 shares of the bank’s stock at the end of the second quarter. Polaris Capital Management LLC owned 0.20% of Park Sterling Corporation worth $1,253,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp bought a new position in Park Sterling Corporation during the first quarter worth $145,000. BlueCrest Capital Management Ltd bought a new stake in Park Sterling Corporation in the second quarter valued at $142,000. Legal & General Group Plc lifted its stake in Park Sterling Corporation by 3.9% in the second quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock valued at $151,000 after buying an additional 474 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Park Sterling Corporation by 9.3% in the second quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock valued at $223,000 after buying an additional 1,598 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Park Sterling Corporation by 3.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,207 shares of the bank’s stock valued at $228,000 after buying an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
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Shares of Park Sterling Corporation (NASDAQ:PSTB) traded up 0.70% on Friday, hitting $12.86. The stock had a trading volume of 43,962 shares. The firm has a 50 day moving average price of $11.90 and a 200-day moving average price of $11.83. Park Sterling Corporation has a 52 week low of $8.01 and a 52 week high of $12.94. The company has a market cap of $680.35 million, a price-to-earnings ratio of 24.73 and a beta of 0.84.
PSTB has been the topic of a number of recent research reports. BidaskClub cut Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. ValuEngine upgraded Park Sterling Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Brean Capital reiterated a “hold” rating on shares of Park Sterling Corporation in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded Park Sterling Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $10.63.
Park Sterling Corporation Company Profile
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial non-member bank. The Company provides banking services to small and medium-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
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