Sterling Bancorp (NYSE:STL) insider Thomas X. Geisel sold 7,927 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $11.46, for a total value of $90,843.42. Following the completion of the transaction, the insider now directly owns 27,172 shares in the company, valued at $311,391.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
NYSE:STL opened at $11.25 on Friday. The stock’s fifty day moving average is $11.31 and its 200 day moving average is $13.62. Sterling Bancorp has a fifty-two week low of $7.01 and a fifty-two week high of $22.12. The firm has a market capitalization of $2.19 billion, a PE ratio of 7.92 and a beta of 1.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.95 and a current ratio of 0.95.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). The business had revenue of $239.39 million during the quarter, compared to the consensus estimate of $242.51 million. Sterling Bancorp had a net margin of 22.93% and a return on equity of 6.30%. Equities analysts forecast that Sterling Bancorp will post 1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, July 31st. Sterling Bancorp’s dividend payout ratio (DPR) is presently 13.53%.
STL has been the topic of several recent research reports. DA Davidson initiated coverage on Sterling Bancorp in a report on Tuesday, July 21st. They set a “buy” rating on the stock. Citigroup upped their price objective on Sterling Bancorp from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Zacks Investment Research cut Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. Maxim Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Sterling Bancorp in a report on Friday, July 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $16.00 price objective on shares of Sterling Bancorp in a report on Monday, April 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.10.
A number of institutional investors have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV bought a new position in shares of Sterling Bancorp during the 2nd quarter worth $28,000. Fifth Third Bancorp raised its stake in shares of Sterling Bancorp by 51.7% in the first quarter. Fifth Third Bancorp now owns 5,210 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,775 shares during the last quarter. Signaturefd LLC raised its stake in shares of Sterling Bancorp by 307.3% in the first quarter. Signaturefd LLC now owns 5,242 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 3,955 shares during the last quarter. Ellevest Inc. raised its stake in shares of Sterling Bancorp by 1,324.1% in the second quarter. Ellevest Inc. now owns 5,383 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 5,005 shares during the last quarter. Finally, FinTrust Capital Advisors LLC acquired a new stake in Sterling Bancorp during the first quarter worth about $75,000. 83.50% of the stock is currently owned by institutional investors.
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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