Shares of Sterling Bancorp (NYSE:STL) have been given an average rating of “Buy” by the thirteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.86.
Several research firms recently weighed in on STL. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Tuesday, January 2nd. JMP Securities began coverage on Sterling Bancorp in a report on Monday, November 20th. They issued a “market perform” rating and a $25.85 target price for the company. Maxim Group restated a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a report on Wednesday, October 25th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 target price on shares of Sterling Bancorp in a report on Thursday, October 12th. Finally, Royal Bank of Canada reduced their target price on Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Tuesday, October 3rd.
Sterling Bancorp (NYSE STL) traded down $0.05 on Monday, reaching $25.95. The company had a trading volume of 1,249,300 shares, compared to its average volume of 1,666,700. Sterling Bancorp has a 12-month low of $21.00 and a 12-month high of $26.50. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.76. The firm has a market cap of $5,831.15, a price-to-earnings ratio of 20.93 and a beta of 1.04.
Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a return on equity of 9.08% and a net margin of 28.58%. The company had revenue of $134.06 million during the quarter, compared to analyst estimates of $135.09 million. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. research analysts expect that Sterling Bancorp will post 1.36 EPS for the current year.
In other Sterling Bancorp news, Director James F. Deutsch sold 300,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $25.31, for a total value of $7,593,000.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $12,655. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas G. Kahn sold 30,000 shares of Sterling Bancorp stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $23.69, for a total value of $710,700.00. Following the completion of the transaction, the director now directly owns 44,774 shares in the company, valued at $1,060,696.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,635 shares of company stock worth $18,727,028. Company insiders own 3.74% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Riverhead Capital Management LLC increased its position in Sterling Bancorp by 70.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,119 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sterling Bancorp by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock worth $128,000 after buying an additional 415 shares during the period. First Bank & Trust increased its position in Sterling Bancorp by 54.5% in the 3rd quarter. First Bank & Trust now owns 7,657 shares of the financial services provider’s stock worth $188,000 after buying an additional 2,701 shares during the period. Envestnet Asset Management Inc. increased its position in Sterling Bancorp by 82.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock worth $193,000 after buying an additional 3,554 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new position in Sterling Bancorp in the 3rd quarter worth approximately $205,000. 91.70% of the stock is currently owned by institutional investors.
Sterling Bancorp Company Profile
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.