Nationwide Fund Advisors Continues to Hold Position in Park Sterling Corporation (PSTB)

Nationwide Fund Advisors continued to hold its stake in Park Sterling Corporation (NASDAQ:PSTB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,439 shares of the bank’s stock at the end of the 2nd quarter. Nationwide Fund Advisors owned approximately 0.07% of Park Sterling Corporation worth $469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSTB. OMERS ADMINISTRATION Corp purchased a new stake in Park Sterling Corporation in the second quarter valued at approximately $5,474,000. SG Americas Securities LLC purchased a new position in shares of Park Sterling Corporation during the 2nd quarter valued at approximately $3,715,000. Dimensional Fund Advisors LP lifted its position in shares of Park Sterling Corporation by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,032,148 shares of the bank’s stock valued at $37,326,000 after buying an additional 194,494 shares in the last quarter. Vanguard Group Inc. raised its stake in Park Sterling Corporation by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 1,990,366 shares of the bank’s stock valued at $24,501,000 after purchasing an additional 114,256 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Park Sterling Corporation by 19,588.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 75,407 shares of the bank’s stock valued at $896,000 after purchasing an additional 75,024 shares during the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

A number of brokerages have issued reports on PSTB. ValuEngine downgraded Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Brean Capital restated a “hold” rating on shares of Park Sterling Corporation in a report on Friday, July 28th. Stephens cut Park Sterling Corporation from an “overweight” rating to an “equal weight” rating in a report on Friday, October 27th. BidaskClub cut Park Sterling Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.00.

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Shares of Park Sterling Corporation (NASDAQ PSTB) opened at $12.59 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. Park Sterling Corporation has a 12 month low of $8.37 and a 12 month high of $13.07. The firm has a market capitalization of $671.87, a P/E ratio of 20.31 and a beta of 0.85.

Park Sterling Corporation (NASDAQ:PSTB) last posted its earnings results on Thursday, October 26th. The bank reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $33.21 million for the quarter, compared to the consensus estimate of $33.20 million. Park Sterling Corporation had a return on equity of 9.17% and a net margin of 20.24%. Park Sterling Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. research analysts anticipate that Park Sterling Corporation will post 0.61 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.27%. Park Sterling Corporation’s dividend payout ratio (DPR) is 28.57%.

Park Sterling Corporation 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.

Institutional Ownership by Quarter for Park Sterling Corporation (NASDAQ:PSTB)

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