Equities research analysts at Stephens initiated coverage on shares of Sterling Bancorp (NYSE:STL) in a research note issued to investors on Monday, The Fly reports. The firm set an “overweight” rating on the financial services provider’s stock.
Other analysts have also issued research reports about the company. B. Riley initiated coverage on Sterling Bancorp in a report on Tuesday, July 16th. They set a “buy” rating and a $26.00 target price on the stock. Piper Jaffray Companies set a $26.00 target price on Sterling Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 31st. Maxim Group set a $28.00 target price on Sterling Bancorp and gave the stock a “buy” rating in a report on Friday. ValuEngine lowered Sterling Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday. Finally, Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Sterling Bancorp has a consensus rating of “Buy” and a consensus target price of $24.86.
Shares of Sterling Bancorp stock traded up $0.13 during trading on Monday, reaching $20.23. The stock had a trading volume of 834,580 shares, compared to its average volume of 2,020,670. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 10.12 and a beta of 1.38. The stock has a fifty day moving average price of $20.00 and a two-hundred day moving average price of $20.35. Sterling Bancorp has a 52 week low of $15.62 and a 52 week high of $22.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.74.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). Sterling Bancorp had a net margin of 32.25% and a return on equity of 10.12%. The firm had revenue of $259.76 million during the quarter, compared to the consensus estimate of $262.65 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts forecast that Sterling Bancorp will post 2.08 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Sterling Bancorp by 81,198.3% in the 1st quarter. FMR LLC now owns 1,713,769 shares of the financial services provider’s stock worth $31,928,000 after purchasing an additional 1,711,661 shares during the period. First Trust Advisors LP grew its stake in Sterling Bancorp by 32.0% in the 1st quarter. First Trust Advisors LP now owns 337,196 shares of the financial services provider’s stock valued at $6,282,000 after buying an additional 81,732 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Sterling Bancorp in the 2nd quarter valued at approximately $200,000. Quantitative Systematic Strategies LLC grew its stake in Sterling Bancorp by 28.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 128,372 shares of the financial services provider’s stock valued at $2,732,000 after buying an additional 28,384 shares in the last quarter. Finally, FSI Group LLC grew its stake in Sterling Bancorp by 8.1% in the 2nd quarter. FSI Group LLC now owns 11,611 shares of the financial services provider’s stock valued at $247,000 after buying an additional 873 shares in the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.
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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