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Downgrade Alert for Park Sterling Bank (PSTB)

By James Quinn

Park Sterling Bank (NASDAQ:PSTB) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $8.14 on volume of 90,000 shares, below average daily volume of 150,000.

Potential upside of 3.7% exists for Park Sterling Bank, based on a current level of $8.14 and analysts' average consensus price target of $8.44. The stock should find initial support at its 200-day moving average (MA) of $7.04 and further support at its 50-day MA of $6.74.

Park Sterling Bank attracts deposits and offers commercial banking services. The Bank offers home equity lines of credit, installment loans, construction loans, overdraft protection, commercial loans and lines of credit, real estate loans, construction loans, lot loans, and others.

In the past 52 weeks, shares of Park Sterling Bank have traded between a low of $5.90 and a high of $8.59 and closed yesterday at $8.14, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 1.52% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Park Sterling Bank on April 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.90. Since that recommendation, shares of Park Sterling Bank have risen 17.7%. We continue to monitor PSTB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades park sterling bank

Ticker(s): PSTB