Shares of Sterling Bancorp (NASDAQ:SBT) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $13.00 for the company and are predicting that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also given Sterling Bancorp an industry rank of 207 out of 255 based on the ratings given to related companies.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet raised shares of Sterling Bancorp from a “d+” rating to a “c” rating in a research note on Monday, August 26th. Finally, Zacks Investment Research lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banc Funds Co. LLC raised its holdings in Sterling Bancorp by 3.6% during the second quarter. Banc Funds Co. LLC now owns 583,100 shares of the company’s stock worth $5,814,000 after buying an additional 20,000 shares during the last quarter. TCW Group Inc. acquired a new position in Sterling Bancorp during the first quarter worth $2,839,000. Renaissance Technologies LLC raised its holdings in Sterling Bancorp by 45.1% during the second quarter. Renaissance Technologies LLC now owns 150,200 shares of the company’s stock worth $1,497,000 after buying an additional 46,700 shares during the last quarter. Denali Advisors LLC raised its holdings in Sterling Bancorp by 142.0% during the third quarter. Denali Advisors LLC now owns 106,869 shares of the company’s stock worth $1,043,000 after buying an additional 62,705 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in Sterling Bancorp by 48.5% during the second quarter. Prudential Financial Inc. now owns 56,648 shares of the company’s stock worth $564,000 after buying an additional 18,492 shares during the last quarter. Hedge funds and other institutional investors own 28.14% of the company’s stock.
Shares of NASDAQ:SBT traded up $0.04 during trading on Monday, reaching $9.95. The stock had a trading volume of 29,838 shares, compared to its average volume of 74,845. The firm’s fifty day moving average is $9.75 and its 200 day moving average is $9.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 1.17. Sterling Bancorp has a 52 week low of $6.65 and a 52 week high of $11.76. The stock has a market cap of $497.12 million, a price-to-earnings ratio of 8.29 and a beta of 1.34.
Sterling Bancorp (NASDAQ:SBT) last issued its earnings results on Monday, July 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The company had revenue of $32.78 million for the quarter, compared to the consensus estimate of $34.20 million. Sterling Bancorp had a return on equity of 18.23% and a net margin of 32.19%. On average, research analysts forecast that Sterling Bancorp will post 1.14 earnings per share for the current fiscal year.
Sterling Bancorp Company Profile
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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