Bank of New York Mellon Corp Boosts Holdings in Park Sterling Corporation (PSTB)

Bank of New York Mellon Corp grew its stake in shares of Park Sterling Corporation (NASDAQ:PSTB) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 329,093 shares of the bank’s stock after buying an additional 5,632 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of Park Sterling Corporation worth $3,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSTB. Karp Capital Management Corp bought a new stake in shares of Park Sterling Corporation during the first quarter worth $145,000. Virginia Retirement Systems ET AL bought a new stake in shares of Park Sterling Corporation in the first quarter worth $257,000. Aperio Group LLC grew its stake in shares of Park Sterling Corporation by 84.5% in the second quarter. Aperio Group LLC now owns 21,790 shares of the bank’s stock worth $259,000 after purchasing an additional 9,977 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Park Sterling Corporation in the second quarter worth $274,000. Finally, Bank of America Corp DE grew its stake in shares of Park Sterling Corporation by 19.5% in the first quarter. Bank of America Corp DE now owns 30,267 shares of the bank’s stock worth $373,000 after purchasing an additional 4,938 shares during the last quarter. 82.11% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://transcriptdaily.com/2017/10/08/bank-of-new-york-mellon-corp-boosts-holdings-in-park-sterling-corporation-pstb.html.

Shares of Park Sterling Corporation (NASDAQ PSTB) opened at 12.81 on Friday. The company has a 50 day moving average of $11.72 and a 200 day moving average of $11.79. The company has a market cap of $677.70 million, a PE ratio of 24.63 and a beta of 0.84. Park Sterling Corporation has a 52 week low of $8.00 and a 52 week high of $12.94.

Park Sterling Corporation (NASDAQ:PSTB) last issued its earnings results on Thursday, July 27th. The bank reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $34.03 million for the quarter, compared to analysts’ expectations of $33.30 million. Park Sterling Corporation had a net margin of 19.00% and a return on equity of 8.67%. During the same quarter last year, the company earned $0.12 EPS. On average, analysts expect that Park Sterling Corporation will post $0.63 EPS for the current year.

Several analysts recently weighed in on the stock. ValuEngine cut shares of Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Brean Capital reissued a “hold” rating on shares of Park Sterling Corporation in a research note on Friday, July 28th. BidaskClub cut shares of Park Sterling Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Park Sterling Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Park Sterling Corporation has a consensus rating of “Hold” and an average target price of $10.63.

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.

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 Corporation (NASDAQ:PSTB).

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

Receive News & Ratings for Park Sterling Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Sterling Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply