Analysts expect that Sterling Bancorp (NYSE:STL) will announce $0.51 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have provided estimates for Sterling Bancorp’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.51. Sterling Bancorp posted earnings per share of $0.35 in the same quarter last year, which would indicate a positive year over year growth rate of 45.7%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 23rd.
According to Zacks, analysts expect that Sterling Bancorp will report full-year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.95 to $2.00. For the next financial year, analysts expect that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.12 to $2.22. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. Sterling Bancorp had a return on equity of 9.67% and a net margin of 20.19%. The company had revenue of $276.81 million during the quarter, compared to analyst estimates of $272.26 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 110.8% on a year-over-year basis.
STL has been the subject of a number of analyst reports. ValuEngine lowered Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $29.98.
In other news, General Counsel James P. Blose sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $22.25, for a total value of $44,500.00. Following the sale, the general counsel now owns 20,322 shares of the company’s stock, valued at approximately $452,164.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. O’toole acquired 4,000 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was purchased at an average cost of $22.93 per share, for a total transaction of $91,720.00. Following the purchase, the director now directly owns 26,713 shares in the company, valued at approximately $612,529.09. The disclosure for this purchase can be found here. 2.09% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of Sterling Bancorp by 142.4% in the 2nd quarter. Bank of America Corp DE now owns 3,647,348 shares of the financial services provider’s stock worth $85,713,000 after buying an additional 2,142,585 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Sterling Bancorp by 8.0% in the 2nd quarter. Wells Fargo & Company MN now owns 3,090,337 shares of the financial services provider’s stock worth $72,622,000 after buying an additional 230,192 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Sterling Bancorp by 58.7% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,553,994 shares of the financial services provider’s stock worth $60,019,000 after buying an additional 944,750 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Sterling Bancorp in the 2nd quarter worth $56,976,000. Finally, EJF Capital LLC raised its stake in shares of Sterling Bancorp by 16.2% in the 2nd quarter. EJF Capital LLC now owns 2,359,000 shares of the financial services provider’s stock worth $55,437,000 after buying an additional 329,000 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors.
STL stock traded down $0.49 during trading on Friday, reaching $19.63. 3,564,100 shares of the company’s stock were exchanged, compared to its average volume of 1,858,211. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.01. Sterling Bancorp has a 1-year low of $19.58 and a 1-year high of $25.65. The firm has a market capitalization of $4.66 billion, a PE ratio of 14.02 and a beta of 0.95.
Sterling Bancorp Company Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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