Research analysts at B. Riley assumed coverage on shares of Sterling Bancorp (NYSE:STL) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $26.00 price target on the financial services provider’s stock. B. Riley’s price target points to a potential upside of 24.16% from the company’s previous close. B. Riley also issued estimates for Sterling Bancorp’s Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.10 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.57 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.61 EPS and FY2020 earnings at $2.30 EPS.
A number of other analysts also recently weighed in on STL. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. DA Davidson began coverage on shares of Western New England Bancorp in a research report on Thursday, July 11th. They issued a “neutral” rating and a $10.00 price target on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $0.35 price target on shares of DB Commodity Double Short ETN in a research report on Friday, July 12th. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Finally, FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Sterling Bancorp currently has a consensus rating of “Buy” and an average price target of $25.43.
Sterling Bancorp stock opened at $20.94 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Sterling Bancorp has a 1 year low of $15.62 and a 1 year high of $23.50. The firm has a market cap of $4.43 billion, a P/E ratio of 10.41 and a beta of 1.33. The company’s 50-day simple moving average is $20.68.
Sterling Bancorp (NYSE:STL) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Sterling Bancorp had a net margin of 33.40% and a return on equity of 10.57%. The company had revenue of $263.90 million for the quarter, compared to the consensus estimate of $262.59 million. During the same period in the prior year, the company posted $0.45 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, research analysts expect that Sterling Bancorp will post 2.12 earnings per share for the current fiscal year.
In related news, CEO Jack L. Kopnisky sold 75,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $21.44, for a total transaction of $1,608,000.00. Following the completion of the sale, the chief executive officer now directly owns 545,790 shares of the company’s stock, valued at approximately $11,701,737.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Javier L. Evan sold 1,533 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.60, for a total value of $31,579.80. Following the sale, the insider now directly owns 24,168 shares of the company’s stock, valued at $497,860.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,396 shares of company stock valued at $3,043,774. 1.67% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. grew its stake in shares of Sterling Bancorp by 137.2% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,150 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Sterling Bancorp by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,762 shares of the financial services provider’s stock worth $4,802,000 after acquiring an additional 2,050 shares in the last quarter. Bremer Bank National Association bought a new position in shares of Sterling Bancorp during the 1st quarter worth approximately $46,000. Palouse Capital Management Inc. grew its stake in shares of Sterling Bancorp by 27.2% during the 1st quarter. Palouse Capital Management Inc. now owns 13,836 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 2,956 shares in the last quarter. Finally, Salzhauer Michael grew its stake in shares of Sterling Bancorp by 3.3% during the 1st quarter. Salzhauer Michael now owns 142,305 shares of the financial services provider’s stock worth $2,651,000 after acquiring an additional 4,605 shares in the last quarter. 93.91% of the stock is 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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