Raymond James Financial Services Advisors Inc. Has $228,000 Stake in Park Sterling Corporation (PSTB)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Park Sterling Corporation (NASDAQ:PSTB) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,207 shares of the bank’s stock after buying an additional 552 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Park Sterling Corporation were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PSTB. BlueCrest Capital Management Ltd acquired a new position in shares of Park Sterling Corporation during the 2nd quarter worth about $142,000. Legal & General Group Plc grew its position in shares of Park Sterling Corporation by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 12,702 shares of the bank’s stock worth $151,000 after buying an additional 474 shares during the period. Principal Financial Group Inc. grew its position in shares of Park Sterling Corporation by 9.3% during the 2nd quarter. Principal Financial Group Inc. now owns 18,756 shares of the bank’s stock worth $223,000 after buying an additional 1,598 shares during the period. Aperio Group LLC grew its position in shares of Park Sterling Corporation by 84.5% during the 2nd quarter. Aperio Group LLC now owns 21,790 shares of the bank’s stock worth $259,000 after buying an additional 9,977 shares during the period. Finally, Virginia Retirement Systems ET AL grew its position in shares of Park Sterling Corporation by 22.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 25,600 shares of the bank’s stock worth $304,000 after buying an additional 4,758 shares during the period. Institutional investors own 81.92% of the company’s stock.

Park Sterling Corporation (PSTB) opened at $12.05 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.90 and a quick ratio of 0.89. Park Sterling Corporation has a 12-month low of $9.15 and a 12-month high of $13.07. The stock has a market capitalization of $640.83, a P/E ratio of 19.44 and a beta of 0.85.

Park Sterling Corporation (NASDAQ:PSTB) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Park Sterling Corporation had a return on equity of 9.08% and a net margin of 20.24%. The business had revenue of $33.21 million during the quarter, compared to analyst estimates of $33.20 million. During the same period in the previous year, the firm earned $0.14 EPS. Park Sterling Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. research analysts anticipate that Park Sterling Corporation will post 0.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Wednesday, November 8th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.16 annualized dividend and a dividend yield of 1.33%. Park Sterling Corporation’s dividend payout ratio is presently 28.57%.

Several equities analysts have recently issued reports on the company. BidaskClub upgraded Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Brean Capital restated a “hold” rating on shares of Park Sterling Corporation in a research report on Friday, October 27th. Zacks Investment Research lowered Park Sterling Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine lowered Park Sterling Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Stephens lowered Park Sterling Corporation from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Park Sterling Corporation has an average rating of “Hold” and a consensus price target of $11.00.

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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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