Carroll Financial Associates buys $7,238,238 stake in Park Sterling Corp (PSTB)

Park Sterling Corp (PSTB) : Carroll Financial Associates scooped up 1,100 additional shares in Park Sterling Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 18, 2016. The investment management firm now holds a total of 958,707 shares of Park Sterling Corp which is valued at $7,238,238.Park Sterling Corp makes up approximately 1.17% of Carroll Financial Associates’s portfolio.

Other Hedge Funds, Including , Arbor Investment Advisors reduced its stake in PSTB by selling 3,000 shares or 3.55% in the most recent quarter. The Hedge Fund company now holds 81,602 shares of PSTB which is valued at $613,647. Park Sterling Corp makes up approx 0.34% of Arbor Investment Advisors’s portfolio.Dalton Greiner Hartman Maher Co boosted its stake in PSTB in the latest quarter, The investment management firm added 5,202 additional shares and now holds a total of 374,871 shares of Park Sterling Corp which is valued at $2,789,040. Park Sterling Corp makes up approx 0.17% of Dalton Greiner Hartman Maher Co’s portfolio.Davenport Co reduced its stake in PSTB by selling 21,686 shares or 21.36% in the most recent quarter. The Hedge Fund company now holds 79,835 shares of PSTB which is valued at $593,972. Park Sterling Corp makes up approx 0.01% of Davenport Co’s portfolio. Bnp Paribas Arbitrage Sa added PSTB to its portfolio by purchasing 1,977 company shares during the most recent quarter which is valued at $14,234.

Park Sterling Corp opened for trading at $7.51 and hit $7.5899 on the upside on Wednesday, eventually ending the session at $7.55, with a gain of 0.53% or 0.04 points. The heightened volatility saw the trading volume jump to 75,068 shares. Company has a market cap of $403 M.

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 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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