Sterling Bancorp (NYSE:STL) has earned a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $26.50.
A number of brokerages recently weighed in on STL. Stephens reiterated a “buy” rating and set a $21.00 price target on shares of Sterling Bancorp in a research note on Wednesday, December 19th. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, January 30th. Maxim Group reaffirmed a “buy” rating and set a $36.00 price target on shares of Sterling Bancorp in a research report on Thursday, January 24th. TheStreet cut shares of Sterling Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, January 3rd. Finally, ValuEngine raised shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th.
Shares of NYSE STL traded down $0.37 during mid-day trading on Wednesday, reaching $20.31. The company had a trading volume of 45,027 shares, compared to its average volume of 2,710,138. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.18 and a beta of 1.25. Sterling Bancorp has a 52-week low of $15.62 and a 52-week high of $25.65.
Sterling Bancorp (NYSE:STL) last posted its earnings results on Wednesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. The firm had revenue of $265.35 million for the quarter, compared to the consensus estimate of $266.32 million. Sterling Bancorp had a net margin of 33.95% and a return on equity of 10.54%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. As a group, sell-side analysts forecast that Sterling Bancorp will post 2.09 earnings per share for the current year.
In other news, insider Brian T. Edwards sold 9,855 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.19, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James J. Landy sold 55,000 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $19.36, for a total transaction of $1,064,800.00. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. JOYN Advisors Inc. lifted its position in shares of 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 purchasing an additional 2,161 shares in the last quarter. Bremer Trust National Association acquired a new position in shares of Sterling Bancorp during the fourth quarter worth $62,000. Toronto Dominion Bank acquired a new position in shares of Sterling Bancorp during the fourth quarter worth $73,000. Pearl River Capital LLC bought a new stake in shares of Sterling Bancorp in the fourth quarter worth $87,000. Finally, Bruderman Asset Management LLC bought a new stake in shares of Sterling Bancorp in the fourth quarter worth $157,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.
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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