Shares of Sterling Bancorp (NASDAQ:SBT) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus price target 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 given Sterling Bancorp an industry rank of 159 out of 256 based on the ratings given to related companies.
Several analysts have issued reports on SBT shares. Piper Jaffray Companies started coverage on Sterling Bancorp in a report on Tuesday, March 19th. They issued an “overweight” rating and a $14.00 target price for the company. Zacks Investment Research cut Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Finally, ValuEngine upgraded Sterling Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Sterling Bancorp by 1.5% in the 4th quarter. BlackRock Inc. now owns 1,095,474 shares of the company’s stock valued at $7,614,000 after purchasing an additional 16,543 shares in the last quarter. Rhumbline Advisers raised its position in shares of Sterling Bancorp by 61.2% during the 4th quarter. Rhumbline Advisers now owns 26,404 shares of the company’s stock worth $184,000 after acquiring an additional 10,025 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Sterling Bancorp by 202.4% during the 4th quarter. Bank of New York Mellon Corp now owns 188,002 shares of the company’s stock worth $1,306,000 after acquiring an additional 125,822 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Sterling Bancorp by 11.3% during the 4th quarter. Prudential Financial Inc. now owns 34,757 shares of the company’s stock worth $242,000 after acquiring an additional 3,517 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Sterling Bancorp by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 234,306 shares of the company’s stock worth $1,628,000 after acquiring an additional 13,036 shares in the last quarter. 29.19% of the stock is currently owned by institutional investors.
NASDAQ SBT traded up $0.07 during mid-day trading on Thursday, hitting $10.12. The stock had a trading volume of 1,762 shares, compared to its average volume of 116,635. The stock’s 50 day moving average is $9.78. Sterling Bancorp has a twelve month low of $6.65 and a twelve month high of $13.92. 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 company has a market capitalization of $524.99 million, a PE ratio of 8.27 and a beta of 1.33.
Sterling Bancorp (NASDAQ:SBT) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Sterling Bancorp had a return on equity of 19.55% and a net margin of 33.72%. The firm had revenue of $34.13 million during the quarter, compared to the consensus estimate of $33.60 million. On average, sell-side analysts anticipate that Sterling Bancorp will post 1.13 earnings per share for the current year.
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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