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.
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.
WARNING: This piece was first published by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.themarketsdaily.com/2018/01/12/dimensional-fund-advisors-lp-reduces-stake-in-park-sterling-corp-pstb.html.
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.
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.