Park Sterling Corporation Buyback
OLI recorded this information on 10/29/2014
Company:
Park Sterling Corporation
Buyback:
PSTB buyback
Share Amount Authorized:
2,200,000.00
Buyback Details:
Park Sterling Corporation (Nasdaq:PSTB), the holding company for Park Sterling Bank, today announced that its board of directors has authorized a new share repurchase program for up to 2.2 million common shares, or approximately 5% of the company's 44,850,813 outstanding and issued common shares. This new share repurchase authorization, which replaces the existing share repurchase program expiring November 1, 2014, is effective through November 1, 2016 and permits the company to effect repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions and other derivative transactions. The specific timing and amount of any repurchases will depend on a variety of factors, including general market conditions, the trading price of the stock, regulatory, legal and contractual requirements and the company's financial performance. This repurchase program does not obligate the company to repurchase any particular number of shares. Park Sterling expects to fund any repurchases from cash on hand and internally generated funds.
Park Sterling is a bank holding company for Park Sterling Bank. Co. provides a range of banking products, including personal, business and non-profit checking accounts, interest on lawyer trust accounts, individual retirement accounts, business and personal money market accounts, time deposits, overdraft protection, safe deposit boxes and online and mobile banking. Co.'s lending activities include a range of short- to medium-term commercial (including asset-based lending), real estate, construction, residential mortgage, home equity and consumer loans, as well as long-term residential mortgages. As of Dec 31 2016, Co. had total assets of $3.26 billion and total deposits of $2.51 billion.
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Avg. Broker Rec.
  
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Hold (2.33 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
