Sterling Bancorp (NYSE:STL) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.10.
Several equities analysts recently commented on the company. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Sterling Bancorp in a research report on Friday, December 20th. ValuEngine upgraded Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Stephens restated a “buy” rating and set a $24.50 target price on shares of Sterling Bancorp in a research report on Wednesday, November 6th. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Maxim Group set a $28.00 target price on Sterling Bancorp and gave the stock a “buy” rating in a research report on Friday, October 25th.
In related news, insider Brian T. Edwards sold 4,660 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $21.16, for a total transaction of $98,605.60. Following the completion of the transaction, the insider now owns 82,396 shares in the company, valued at approximately $1,743,499.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.67% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of STL. Smith Asset Management Group LP bought a new position in Sterling Bancorp in the 2nd quarter valued at $29,000. Quest Capital Management Inc. ADV bought a new position in Sterling Bancorp in the 3rd quarter valued at $41,000. Private Capital Group LLC bought a new position in Sterling Bancorp in the 2nd quarter valued at $50,000. Rehmann Capital Advisory Group raised its position in Sterling Bancorp by 98.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,407 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in Sterling Bancorp in the 2nd quarter valued at $62,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.
Shares of NYSE:STL traded up $0.07 during trading on Friday, hitting $20.89. 854,695 shares of the stock were exchanged, compared to its average volume of 1,071,567. Sterling Bancorp has a 1-year low of $17.57 and a 1-year high of $22.17. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 10.45 and a beta of 1.39. The company’s fifty day simple moving average is $20.86 and its 200-day simple moving average is $20.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.99 and a current ratio of 0.99.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.02). The firm had revenue of $259.76 million for the quarter, compared to analyst estimates of $262.65 million. Sterling Bancorp had a return on equity of 10.12% and a net margin of 32.25%. Sterling Bancorp’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. On average, research analysts forecast that Sterling Bancorp will post 2.06 earnings per share for the current fiscal year.
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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