Zacks: Sterling Bancorp (NASDAQ:SBT) Given $14.00 Consensus Target Price by Brokerages

Sterling Bancorp (NASDAQ:SBT) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus target price of $14.00 for the company and are predicting that the company will post $0.28 EPS for the current quarter, according to Zacks. Zacks has also assigned Sterling Bancorp an industry rank of 161 out of 256 based on the ratings given to its competitors.

SBT has been the topic of a number of research reports. Piper Jaffray Companies initiated coverage on Sterling Bancorp in a research note on Tuesday, March 19th. They set an “overweight” rating and a $14.00 price target on the stock. ValuEngine cut Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 23rd.

NASDAQ:SBT traded up $0.17 during trading hours on Tuesday, reaching $9.58. 32,625 shares of the stock were exchanged, compared to its average volume of 66,462. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. Sterling Bancorp has a twelve month low of $6.65 and a twelve month high of $14.24. The stock has a market capitalization of $497.96 million, a price-to-earnings ratio of 7.98 and a beta of 1.24.

Sterling Bancorp (NASDAQ:SBT) last released its quarterly earnings results on Monday, April 29th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. Sterling Bancorp had a return on equity of 19.55% and a net margin of 33.72%. The company had revenue of $34.13 million for the quarter, compared to analysts’ expectations of $33.60 million. On average, sell-side analysts expect that Sterling Bancorp will post 1.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Saturday, May 25th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Thursday, May 23rd. Sterling Bancorp’s dividend payout ratio is currently 3.33%.

Several institutional investors have recently bought and sold shares of SBT. BNP Paribas Arbitrage SA increased its position in shares of Sterling Bancorp by 938.4% during the first quarter. BNP Paribas Arbitrage SA now owns 4,652 shares of the company’s stock worth $47,000 after acquiring an additional 4,204 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in Sterling Bancorp in the fourth quarter valued at $90,000. SG Americas Securities LLC purchased a new position in Sterling Bancorp in the fourth quarter valued at $108,000. SEI Investments Co purchased a new position in Sterling Bancorp in the first quarter valued at $128,000. Finally, Denali Advisors LLC purchased a new position in Sterling Bancorp in the first quarter valued at $138,000. 29.19% of the stock is currently owned by institutional investors and hedge funds.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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