Carroll Financial Associates Inc. Sells 26,945 Shares of Park Sterling Corporation (PSTB)

Carroll Financial Associates Inc. lowered its position in Park Sterling Corporation (NASDAQ:PSTB) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 609,519 shares of the bank’s stock after selling 26,945 shares during the quarter. Park Sterling Corporation comprises about 0.9% of Carroll Financial Associates Inc.’s portfolio, making the stock its 26th largest position. Carroll Financial Associates Inc. owned 1.15% of Park Sterling Corporation worth $7,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Park Sterling Corporation by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,086,710 shares of the bank’s stock worth $36,670,000 after acquiring an additional 54,562 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Park Sterling Corporation by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,386,320 shares of the bank’s stock valued at $28,350,000 after buying an additional 53,186 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Park Sterling Corporation by 7.7% during the second quarter. Vanguard Group Inc. now owns 2,143,632 shares of the bank’s stock valued at $25,466,000 after buying an additional 153,266 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Park Sterling Corporation by 1.9% during the first quarter. Wellington Management Group LLP now owns 1,202,065 shares of the bank’s stock valued at $14,797,000 after buying an additional 21,972 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Park Sterling Corporation by 6.5% during the second quarter. State Street Corp now owns 977,850 shares of the bank’s stock valued at $11,617,000 after buying an additional 59,935 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of Park Sterling Corporation (NASDAQ:PSTB) opened at $12.05 on Friday. The company has a market cap of $638.18, a P/E ratio of 19.35 and a beta of 0.85. Park Sterling Corporation has a one year low of $9.15 and a one year high of $13.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.90.

Park Sterling Corporation (NASDAQ:PSTB) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 Corporation had a net margin of 20.24% and a return on equity of 9.08%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. research analysts forecast that Park Sterling Corporation will post 0.61 earnings per share for the current fiscal year.

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

PSTB has been the subject of several analyst reports. ValuEngine raised shares of Park Sterling Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Park Sterling Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Friday, August 18th. Stephens lowered shares of Park Sterling Corporation from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 27th. Brean Capital reissued a “hold” rating on shares of Park Sterling Corporation in a research report on Friday, October 27th. Finally, BidaskClub raised shares of Park Sterling Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.00.

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Park Sterling Corporation Company 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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