Park Sterling Corp (PSTB) Releases Earnings Results, Beats Expectations By $0.02 EPS

Park Sterling Corp (PSTB) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.10. The company posted revenue of $31.33 million in the period, compared to analysts expectations of $29.34 million. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on Park Sterling Corp. Park Sterling Corp was Upgraded by Raymond James to ” Outperform” on Mar 3, 2016. Shares were Reiterated by Hovde Group on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 7.50 from a previous price target of $9 .

Park Sterling Corp closed down -0.07 points or -0.98% at $7.08 with 45,002 shares getting traded on Wednesday. Post opening the session at $7.12, the shares hit an intraday low of $7 and an intraday high of $7.13 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 25, 2016, Patricia C Hartung (director) purchased 65 shares at $6.06 per share price. According to the SEC, on Feb 22, 2016, Nancy L. Foster (Chief Risk Officer) purchased 5,000 shares at $6.10 per share price. On May 4, 2015, David L. Gaines (CFO) purchased 5,000 shares at $6.72 per share price, according to the Form-4 filing with the securities and exchange commission.

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 owner-occupied and income-producing real estate owners residential builders institutions professionals and consumers doing business or residing within its target markets. It provides a range of banking products including personal non-profit checking accounts IOLTA individual retirement accounts business and personal money market accounts time deposits overdraft protection and online and mobile banking. Its wealth management activities include investment management private banking and investment brokerage services. Its cash management activities include remote deposit capture lockbox services sweep accounts and wire payments. Its capital markets activities include interest rate and currency risk management products loan syndications and debt placements.

Park Sterling Corp

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