Sterling Bancorp (NASDAQ:SBT) announced its quarterly earnings data on Monday, April 29th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03, Morningstar.com reports. The company had revenue of $34.13 million for the quarter, compared to analyst estimates of $33.60 million. Sterling Bancorp had a return on equity of 19.55% and a net margin of 33.72%.
SBT traded down $0.07 during trading on Wednesday, hitting $10.00. The company’s stock had a trading volume of 54,456 shares, compared to its average volume of 82,039. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.21 and a current ratio of 1.21. Sterling Bancorp has a 12 month low of $6.65 and a 12 month high of $14.73. The company has a market cap of $523.43 million, a price-to-earnings ratio of 8.33 and a beta of 1.26.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Saturday, May 25th will be given a $0.01 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.04 annualized dividend and a yield of 0.40%. Sterling Bancorp’s payout ratio is 3.33%.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in shares of Sterling Bancorp by 938.4% during the first quarter. BNP Paribas Arbitrage SA now owns 4,652 shares of the company’s stock worth $47,000 after purchasing an additional 4,204 shares during the period. SEI Investments Co acquired a new stake in shares of Sterling Bancorp during the first quarter worth $128,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Sterling Bancorp during the fourth quarter worth $90,000. Denali Advisors LLC acquired a new stake in shares of Sterling Bancorp during the first quarter worth $138,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Sterling Bancorp during the fourth quarter worth $108,000. Institutional investors own 31.15% of the company’s stock.
SBT has been the subject of several analyst reports. Piper Jaffray Companies initiated coverage on Sterling Bancorp in a research report on Tuesday, March 19th. They set an “overweight” rating and a $14.00 target price for the company. ValuEngine downgraded Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 23rd.
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Sterling Bancorp Company Profile
Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.
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