Stephens & Co. Upgrades Park Sterling Corp to Overweight

Brokerage firm Stephens & Co. Upgrades its rating on Park Sterling Corp(NASDAQ:PSTB). The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Stephens & Co. was issued on Jul 5, 2016.

Park Sterling Corp (PSTB) made into the market gainers list on Fridays trading session with the shares advancing 0.98% or 0.07 points. Due to strong positive momentum, the stock ended at $7.2, which is also near the day’s high of $7.35. The stock began the session at $7.18 and the volume stood at 1,32,903 shares. The 52-week high of the shares is $8.2 and the 52 week low is $5.9. The company has a current market capitalization of $384 M and it has 5,33,72,684 shares in outstanding.

Park Sterling Corp(PSTB) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $26.60M. Analysts had an estimated revenue of $25.17M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.08.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, Larry W. Carroll (director) sold 10,250 shares at $0.00 per share price.Also, On May 26, 2016, Patricia C Hartung (director) purchased 52 shares at $7.50 per share price.On Feb 22, 2016, Nancy L. Foster (Chief Risk Officer) purchased 5,000 shares at $6.10 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.

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