Schwab Charles Investment Management Inc. lifted its stake in shares of Park Sterling Corp (NASDAQ:PSTB) by 26.8% during the 3rd quarter, Holdings Channel reports. The firm owned 221,962 shares of the bank’s stock after purchasing an additional 46,877 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Park Sterling were worth $2,757,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PSTB. Willingdon Wealth Management purchased a new stake in shares of Park Sterling during the 3rd quarter valued at approximately $108,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Park Sterling during the 2nd quarter valued at approximately $142,000. Legal & General Group Plc raised its position in shares of Park Sterling by 3.9% during the 2nd 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 period. Citadel Advisors LLC purchased a new stake in shares of Park Sterling during the 3rd quarter valued at approximately $164,000. Finally, Principal Financial Group Inc. raised its position in shares of Park Sterling by 9.3% during the 2nd 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 period. Institutional investors and hedge funds own 82.55% of the company’s stock.
PSTB has been the topic of several analyst reports. Stephens lowered shares of Park Sterling from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 27th. Brean Capital reaffirmed a “hold” rating on shares of Park Sterling in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Park Sterling from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, ValuEngine lowered Park Sterling from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Park Sterling has a consensus rating of “Hold” and an average target price of $13.00.
Park Sterling (NASDAQ:PSTB) last announced its earnings results on Thursday, October 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $33.21 million for the quarter, compared to analyst estimates of $33.20 million. Park Sterling had a return on equity of 9.35% and a net margin of 26.18%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. equities research analysts expect that Park Sterling Corp will post 0.6 EPS for the current year.
Park Sterling 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.
Want to see what other hedge funds are holding PSTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Sterling Corp (NASDAQ:PSTB).
Receive News & Ratings for Park Sterling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Sterling and related companies with MarketBeat.com's FREE daily email newsletter.