Sterling Bancorp (NYSE: STL) shares were down on Monday Dec 19 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, the Dow Jones Industrial Average DJIA, +0.22% was trading up 37 points, or 0.2%, at 19,879, inching up to break the psychologically important 20,000 level.
The S&P 500 index SPX, +0.20% was up 6 points, or 0.3% at 2,264, with nine of the 11 main sectors trading higher.
The Nasdaq Composite Index COMP, +0.32% added 18 points, or 0.3% to 5,455.
Sterling Bancorp (NYSE: STL) had its price target increased by equities researchers at Maxim Group from $21.00 to $27.00. Maxim Group currently has a rating of Buy on the shares. A number of other analysts have spoken on the company in recent days, and Sterling Bancorp has earned a consensus one-year price target of $14.75, less than the opening price of $23.70, a difference of 6.28 percent. Sterling Bancorp stock has a 52-week high of $24.65.
Sterling Bancorp (NYSE: STL) shares last traded at $23.50, a drop of $0.05 per share or -0.21% compared to the previous closing price. Opening at $23.70, they ranged from $23.50 and $23.80 throughout the day.
Sterling Bancorp (NYSE: STL) currently has a market cap of 3.07B.
Sterling Bancorp (NYSE: STL) Average Daily Trading Volume
66,926 shares crossed the trading desk yesterday, below normal, out of a total float 127,076,000. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume aggregation or dissemination by institutional investors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Sterling Bancorp (NYSE: STL) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Sterling Bancorp (NYSE: STL) now has a 50-day MA of $21.73 and 200-day MA of $18.07. It has traded in a 52-week range between $13.44 – 24.65 and today’s last price is 4.67%% lower than the 52 week high of $24.65.
Earnings growth is a crucial factor to look at when investing in stocks and investors identify companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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