Sterling Bancorp (NYSE:STL) has received a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.97.
Several analysts have commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Sterling Bancorp in a research report on Wednesday, April 25th. Zacks Investment Research lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Sterling Bancorp in a research report on Thursday, April 5th.
STL stock traded down $0.08 during mid-day trading on Thursday, hitting $24.57. The company had a trading volume of 51,088 shares, compared to its average volume of 1,735,079. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 17.55 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 0.99. Sterling Bancorp has a 12 month low of $24.25 and a 12 month high of $25.65.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $262.57 million for the quarter, compared to analyst estimates of $259.67 million. Sterling Bancorp had a net margin of 16.84% and a return on equity of 9.24%. The company’s revenue for the quarter was up 108.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. analysts forecast that Sterling Bancorp will post 1.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 21st. Stockholders of record on Monday, May 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, May 4th. Sterling Bancorp’s dividend payout ratio (DPR) is currently 20.00%.
In other news, insider Thomas X. Geisel sold 4,446 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $25.45, for a total value of $113,150.70. Following the sale, the insider now owns 12,819 shares of the company’s stock, valued at $326,243.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James F. Deutsch sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $25.03, for a total transaction of $2,503,000.00. Following the completion of the sale, the director now directly owns 500 shares in the company, valued at approximately $12,515. The disclosure for this sale can be found here. In the last three months, insiders sold 243,165 shares of company stock worth $6,086,560. Insiders own 2.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Highlander Capital Management LLC raised its position in shares of Sterling Bancorp by 700.0% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 7,000 shares during the period. Gotham Asset Management LLC bought a new stake in shares of Sterling Bancorp in the fourth quarter valued at approximately $208,000. Intrust Bank NA bought a new stake in shares of Sterling Bancorp in the fourth quarter valued at approximately $225,000. GWM Advisors LLC bought a new stake in shares of Sterling Bancorp in the first quarter valued at approximately $202,000. Finally, Canandaigua National Bank & Trust Co. bought a new stake in Sterling Bancorp during the 1st quarter worth approximately $211,000. 91.18% of the stock is currently owned by institutional investors.
About Sterling Bancorp
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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