Shares of Sterling Bancorp (NYSE:STL) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $26.50.
A number of analysts have weighed in on STL shares. ValuEngine raised Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a report on Monday, April 29th. Finally, Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 5th.
NYSE:STL traded up $0.59 during mid-day trading on Thursday, reaching $20.39. 127,717 shares of the stock were exchanged, compared to its average volume of 2,378,476. The company has a market capitalization of $4.05 billion, a PE ratio of 10.20 and a beta of 1.33. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.87. Sterling Bancorp has a 1 year low of $15.62 and a 1 year high of $25.65.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Sterling Bancorp had a return on equity of 10.57% and a net margin of 33.40%. The company had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $262.59 million. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Sterling Bancorp will post 2.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 6th were issued a $0.07 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.37%. Sterling Bancorp’s dividend payout ratio is currently 14.00%.
In related news, insider Thomas X. Geisel sold 12,335 shares of Sterling Bancorp stock in a transaction on Friday, April 26th. The stock was sold at an average price of $21.05, for a total transaction of $259,651.75. Following the completion of the transaction, the insider now directly owns 27,047 shares of the company’s stock, valued at $569,339.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian T. Edwards sold 9,855 shares of Sterling Bancorp stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.19, for a total value of $198,972.45. Following the transaction, the insider now directly owns 98,050 shares of the company’s stock, valued at $1,979,629.50. The disclosure for this sale can be found here. Insiders sold a total of 151,718 shares of company stock valued at $3,211,167 over the last three months. Insiders own 1.67% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Coastal Investment Advisors Inc. acquired a new position in Sterling Bancorp during the first quarter worth $31,000. Rockefeller Capital Management L.P. increased its position in Sterling Bancorp by 325.6% during the first quarter. Rockefeller Capital Management L.P. now owns 1,809 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,384 shares in the last quarter. Shine Investment Advisory Services Inc. increased its position in Sterling Bancorp by 137.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,150 shares in the last quarter. JOYN Advisors Inc. increased its position in Sterling Bancorp by 559.8% during the fourth quarter. JOYN Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $42,000 after buying an additional 2,161 shares in the last quarter. Finally, Bremer Bank National Association purchased a new position in Sterling Bancorp during the first quarter worth $46,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
Sterling Bancorp Company Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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