Brokerages expect that Sterling Bancorp (NYSE:STL) will report earnings per share (EPS) of $0.38 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Sterling Bancorp’s earnings, with estimates ranging from $0.37 to $0.40. Sterling Bancorp posted earnings per share of $0.30 during the same quarter last year, which would indicate a positive year over year growth rate of 26.7%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, January 23rd.
On average, analysts expect that Sterling Bancorp will report full year earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.31 to $1.38. For the next fiscal year, analysts forecast that the firm will report earnings of $1.85 per share, with EPS estimates ranging from $1.72 to $1.95. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a return on equity of 9.08% and a net margin of 28.58%. The firm had revenue of $134.06 million for the quarter, compared to analyst estimates of $135.09 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. Sterling Bancorp’s revenue for the quarter was up 9.7% on a year-over-year basis.
STL has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. JMP Securities assumed coverage on shares of Sterling Bancorp in a research report on Monday, November 20th. They set a “market perform” rating and a $25.85 price target for the company. Royal Bank of Canada dropped their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, October 3rd. Maxim Group reiterated a “buy” rating and set a $30.00 price target on shares of Sterling Bancorp in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $29.00 price target on shares of Sterling Bancorp in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.59.
Shares of Sterling Bancorp (STL) opened at $25.60 on Thursday. Sterling Bancorp has a 12-month low of $21.00 and a 12-month high of $26.50. The stock has a market cap of $5,680.00, a PE ratio of 20.65 and a beta of 1.04. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.99 and a current ratio of 0.99.
In related news, Director James F. Deutsch sold 300,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $25.31, for a total value of $7,593,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $12,655. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jack L. Kopnisky sold 54,100 shares of Sterling Bancorp stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $24.71, for a total transaction of $1,336,811.00. Following the completion of the transaction, the chief executive officer now owns 231,765 shares of the company’s stock, valued at approximately $5,726,913.15. The disclosure for this sale can be found here. Insiders sold 753,635 shares of company stock valued at $18,727,028 in the last 90 days. Company insiders own 3.74% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Sterling Bancorp by 0.7% in the second quarter. BlackRock Inc. now owns 16,098,764 shares of the financial services provider’s stock worth $374,296,000 after acquiring an additional 105,766 shares during the last quarter. State Street Corp lifted its position in shares of Sterling Bancorp by 38.2% during the 2nd quarter. State Street Corp now owns 8,198,819 shares of the financial services provider’s stock worth $190,624,000 after buying an additional 2,267,814 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Sterling Bancorp by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,312,473 shares of the financial services provider’s stock worth $77,015,000 after buying an additional 463,922 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Sterling Bancorp by 2.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,264,660 shares of the financial services provider’s stock worth $80,474,000 after buying an additional 69,900 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Sterling Bancorp by 4.0% during the 2nd quarter. Northern Trust Corp now owns 2,756,462 shares of the financial services provider’s stock worth $64,087,000 after buying an additional 106,638 shares during the last quarter. Institutional investors own 91.70% of the company’s stock.
Sterling Bancorp Company Profile
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
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