Pacific Ridge Capital Partners buys $4.2 Million stake in Park Sterling Corp (PSTB)

Park Sterling Corp (PSTB) : Pacific Ridge Capital Partners scooped up 1,830 additional shares in Park Sterling Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 574,600 shares of Park Sterling Corp which is valued at $4.2 Million.Park Sterling Corp makes up approximately 1.88% of Pacific Ridge Capital Partners’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in PSTB by selling 15,575 shares or 7.14% in the most recent quarter. The Hedge Fund company now holds 202,496 shares of PSTB which is valued at $1.5 Million.Huber Capital Management reduced its stake in PSTB by selling 471,012 shares or 15.83% in the most recent quarter. The Hedge Fund company now holds 2,505,187 shares of PSTB which is valued at $18.2 Million. Park Sterling Corp makes up approx 0.72% of Huber Capital Management’s portfolio. Denver Investment Advisors added PSTB to its portfolio by purchasing 15,288 company shares during the most recent quarter which is valued at $110,838. Globeflex Capital L P added PSTB to its portfolio by purchasing 55,854 company shares during the most recent quarter which is valued at $403,266. Park Sterling Corp makes up approx 0.11% of Globeflex Capital L P’s portfolio.

Park Sterling Corp closed down -0.02 points or -0.27% at $7.49 with 3,28,445 shares getting traded on Wednesday. Post opening the session at $7.5, the shares hit an intraday low of $7.48 and an intraday high of $7.56 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Park Sterling Corp reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.10. The company had revenue of $31.33 million for the quarter, 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. Company shares were Reiterated by Hovde Group on May 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 8.25 from a previous price target of $7.25 .Park Sterling Corp was Upgraded by Raymond James to ” Outperform” on Mar 3, 2016.

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.

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