Mendon Capital Advisors Corp Lowers stake in Park Sterling Corp (PSTB)

Park Sterling Corp (PSTB) : Mendon Capital Advisors Corp reduced its stake in Park Sterling Corp by 47.32% during the most recent quarter end. The investment management company now holds a total of 961,310 shares of Park Sterling Corp which is valued at $7,450,153 after selling 863,517 shares in Park Sterling Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Park Sterling Corp makes up approximately 1.36% of Mendon Capital Advisors Corp’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in PSTB by selling 3,300 shares or 1.72% in the most recent quarter. The Hedge Fund company now holds 188,434 shares of PSTB which is valued at $1,460,364.Thomson Horstmann Bryant Inc reduced its stake in PSTB by selling 284,284 shares or 30.63% in the most recent quarter. The Hedge Fund company now holds 643,940 shares of PSTB which is valued at $4,939,020. Park Sterling Corp makes up approx 0.61% of Thomson Horstmann Bryant Inc’s portfolio.Carroll Financial Associates boosted its stake in PSTB in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 958,707 shares of Park Sterling Corp which is valued at $7,238,238. Park Sterling Corp makes up approx 1.17% of Carroll Financial Associates’s portfolio.

Park Sterling Corp opened for trading at $7.98 and hit $8.06 on the upside on Monday, eventually ending the session at $8.01, with a gain of 0.38% or 0.03 points. The heightened volatility saw the trading volume jump to 1,26,553 shares. Company has a market cap of $428 M.

On the company’s financial health, Park Sterling Corp reported $0.12 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.12.Analysts expectations of $ 31.36.During the same quarter in the previous year, the company posted $0.10 EPS.

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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