Dimensional Fund Advisors LP Reduces Stake in Park Sterling Corp (PSTB)

Dimensional Fund Advisors LP lessened its position in Park Sterling Corp (NASDAQ:PSTB) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,058,093 shares of the bank’s stock after selling 28,617 shares during the period. Dimensional Fund Advisors LP owned approximately 0.06% of Park Sterling worth $37,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in shares of Park Sterling by 28.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 84,546 shares of the bank’s stock worth $1,004,000 after buying an additional 18,947 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Park Sterling in the 3rd quarter worth $508,000. Vanguard Group Inc. raised its stake in shares of Park Sterling by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,143,632 shares of the bank’s stock worth $25,466,000 after buying an additional 153,266 shares in the last quarter. Northern Trust Corp raised its stake in shares of Park Sterling by 2.2% in the 2nd quarter. Northern Trust Corp now owns 593,271 shares of the bank’s stock worth $7,048,000 after buying an additional 12,512 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Park Sterling by 6.5% in the 2nd quarter. State Street Corp now owns 977,850 shares of the bank’s stock worth $11,617,000 after buying an additional 59,935 shares in the last quarter. 82.55% of the stock is currently owned by institutional investors.

Shares of Park Sterling Corp (PSTB) opened at $12.87 on Friday. Park Sterling Corp has a 12 month low of $9.60 and a 12 month high of $13.20. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $686.80, a price-to-earnings ratio of 22.98 and a beta of 0.85.

Park Sterling (NASDAQ:PSTB) last issued its earnings results on Thursday, October 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $33.21 million for the quarter, compared to analysts’ expectations of $33.20 million. Park Sterling had a return on equity of 9.35% and a net margin of 26.18%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. research analysts forecast that Park Sterling Corp will post 0.6 earnings per share for the current fiscal year.

A number of analysts have recently commented on PSTB shares. Stephens downgraded Park Sterling from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 27th. Brean Capital reissued a “hold” rating on shares of Park Sterling in a research note on Friday, October 27th. Zacks Investment Research downgraded Park Sterling from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, ValuEngine downgraded Park Sterling from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.00.

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About Park Sterling

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

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