Renaissance Technologies LLC boosted its stake in Park Sterling Corp (NASDAQ:PSTB) by 77.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 803,223 shares of the bank’s stock after buying an additional 349,450 shares during the period. Renaissance Technologies LLC owned approximately 1.52% of Park Sterling Corp worth $8,667,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Advisory Research Inc. boosted its stake in Park Sterling Corp by 21.7% in the fourth quarter. Advisory Research Inc. now owns 913,952 shares of the bank’s stock valued at $9,862,000 after buying an additional 163,033 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Park Sterling Corp by 51.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 36,044 shares of the bank’s stock worth $389,000 after buying an additional 12,306 shares during the last quarter. John W. Rosenthal Capital Management Inc. bought a new position in shares of Park Sterling Corp during the fourth quarter worth approximately $1,349,000. Dimensional Fund Advisors LP raised its position in shares of Park Sterling Corp by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,837,654 shares of the bank’s stock worth $30,618,000 after buying an additional 218,820 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Park Sterling Corp by 38.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,438 shares of the bank’s stock worth $210,000 after buying an additional 5,367 shares during the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.
Park Sterling Corp (NASDAQ:PSTB) traded up 0.25% during midday trading on Friday, hitting $11.95. 190,665 shares of the stock traded hands. The firm’s 50-day moving average is $11.86 and its 200-day moving average is $10.62. Park Sterling Corp has a 52-week low of $6.64 and a 52-week high of $12.37. The company has a market cap of $629.88 million, a price-to-earnings ratio of 31.45 and a beta of 0.90.
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Several equities analysts recently commented on PSTB shares. Zacks Investment Research raised shares of Park Sterling Corp from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, December 28th. Brean Capital started coverage on shares of Park Sterling Corp in a report on Friday, February 24th. They set a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.38.
In other Park Sterling Corp news, President Bryan F. Kennedy III sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $11.55, for a total value of $231,000.00. Following the completion of the sale, the president now owns 143,515 shares in the company, valued at $1,657,598.25. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.22% of the stock is currently owned by insiders.
About Park Sterling Corp
Park Sterling Corporation is a holding company for Park Sterling Bank (the Bank). The Bank is a North Carolina-chartered commercial nonmember bank. The Company provides banking services to small and mid-sized businesses, real estate owners, residential builders, institutions, professionals and consumers doing business or residing within its target markets.
