Park Sterling Bank was Downgraded to a Hold Rating at KBW

By Jason Carr

Park Sterling Bank (NASDAQ: PSTB) received a Hold rating from KBW analyst Jefferson Harralson today. The company’s shares closed yesterday at $9.98, close to its 52-week high of $10.36.

According to TipRanks.com, Harralson is a 5-star analyst with an average return of 17.9% and a 82.9% success rate. Harralson covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, Pinnacle Financial Partners, and Southern First Bancshares.

Park Sterling Bank has an analyst consensus of Hold.

Based on Park Sterling Bank’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $35.06 million and quarterly net profit of $6.32 million. In comparison, last year the company earned revenue of $27.48 million and had a net profit of $4.78 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSTB in relation to earlier this year. Most recently, in August 2016, Patricia Hartung, a Director at PSTB bought 64 shares for a total of $520.

Park Sterling Corp. operates as a bank holding company for Park Sterling Bank, which provides banking services. The bank’s primary focus is to provide banking services to small and mid-sized businesses, owner-occupied and income producing real estate owners and professionals. It offers a wide range of banking products, including personal and business checking accounts, individual retirement accounts, business and personal money market accounts, certificates of deposit, overdraft protection, safe deposit boxes and online banking. Park Sterling was founded on October 6, 2010 and is headquartered in Charlotte, NC.