Sterling Bancorp (NASDAQ:SBT) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a 12-month consensus target price of $13.00 for the company and are predicting that the company will post $0.27 EPS for the current quarter, according to Zacks. Zacks has also assigned Sterling Bancorp an industry rank of 174 out of 256 based on the ratings given to its competitors.
SBT has been the subject of a number of recent analyst reports. Piper Jaffray Companies initiated coverage on Sterling Bancorp in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $14.00 price objective for the company. ValuEngine upgraded Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research downgraded Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday.
Sterling Bancorp stock traded up $0.07 during trading on Wednesday, hitting $9.78. 62,605 shares of the company were exchanged, compared to its average volume of 83,062. The company has a market capitalization of $514.59 million, a P/E ratio of 8.15 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $9.77. Sterling Bancorp has a 52 week low of $6.65 and a 52 week high of $13.92.
Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $34.13 million during the quarter, compared to the consensus estimate of $33.60 million. Sterling Bancorp had a return on equity of 19.55% and a net margin of 33.72%. Equities analysts expect that Sterling Bancorp will post 1.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Saturday, May 25th were paid a $0.01 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.41%. Sterling Bancorp’s dividend payout ratio (DPR) is presently 3.33%.
Several hedge funds have recently bought and sold shares of SBT. Vanguard Group Inc. raised its holdings in shares of Sterling Bancorp by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 718,446 shares of the company’s stock worth $8,125,000 after purchasing an additional 13,430 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Sterling Bancorp by 10.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 52,419 shares of the company’s stock worth $593,000 after purchasing an additional 5,021 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Sterling Bancorp by 61.2% in the 4th quarter. Rhumbline Advisers now owns 26,404 shares of the company’s stock worth $184,000 after purchasing an additional 10,025 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter worth approximately $108,000. Finally, Jennison Associates LLC increased its position in shares of Sterling Bancorp by 14.6% in the fourth quarter. Jennison Associates LLC now owns 326,471 shares of the company’s stock worth $2,269,000 after acquiring an additional 41,502 shares in the last quarter. Institutional investors own 29.19% of the company’s stock.
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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