Sterling Bancorp (NYSE:STL) Director James F. Deutsch Sells 100,000 Shares

Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $25.31, for a total transaction of $2,531,000.00. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at $12,655. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sterling Bancorp (STL) traded down $0.25 during trading hours on Monday, reaching $25.25. 2,127,700 shares of the company were exchanged, compared to its average volume of 1,634,632. Sterling Bancorp has a 1-year low of $21.00 and a 1-year high of $26.50. The company has a market capitalization of $5,673.85, a price-to-earnings ratio of 19.57 and a beta of 1.04. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.76.

Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The firm had revenue of $134.06 million during the quarter, compared to the consensus estimate of $135.09 million. During the same period in the prior year, the business earned $0.29 earnings per share. Sterling Bancorp’s quarterly revenue was up 9.7% compared to the same quarter last year. analysts anticipate that Sterling Bancorp will post 1.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, November 3rd. Sterling Bancorp’s dividend payout ratio is currently 22.58%.

Several institutional investors and hedge funds have recently bought and sold shares of STL. AQR Capital Management LLC boosted its stake in shares of Sterling Bancorp by 24.6% in the 1st quarter. AQR Capital Management LLC now owns 70,264 shares of the financial services provider’s stock valued at $1,666,000 after purchasing an additional 13,878 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Sterling Bancorp by 1.6% in the 2nd quarter. Aperio Group LLC now owns 22,564 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 347 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Sterling Bancorp by 6.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 200,060 shares of the financial services provider’s stock worth $4,640,000 after buying an additional 12,557 shares during the period. Channing Capital Management LLC acquired a new stake in Sterling Bancorp during the 2nd quarter worth approximately $5,302,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in Sterling Bancorp during the 2nd quarter worth approximately $581,000. Institutional investors own 91.70% of the company’s stock.

STL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $29.00 target price on shares of Sterling Bancorp in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, August 29th. Maxim Group restated a “buy” rating and set a $30.00 target price on shares of Sterling Bancorp in a report on Wednesday, October 25th. Finally, ValuEngine cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.48.

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About Sterling Bancorp

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.

Insider Buying and Selling by Quarter for Sterling Bancorp (NYSE:STL)

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