Sterling Bancorp (NYSE:STL) has earned an average recommendation of “Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $27.69.
STL has been the topic of several recent analyst reports. Zacks Investment Research raised Sterling Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Saturday, July 29th. Maxim Group reaffirmed a “buy” rating and set a $30.00 price objective on shares of Sterling Bancorp in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Sterling Bancorp in a research report on Thursday, September 7th. Finally, ValuEngine cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th.
Sterling Bancorp (STL) traded down 1.81% during midday trading on Friday, hitting $24.40. The stock had a trading volume of 1,423,438 shares. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 20.35 and a beta of 1.07. Sterling Bancorp has a 52 week low of $16.75 and a 52 week high of $25.85. The firm has a 50 day moving average of $23.27 and a 200 day moving average of $22.99.
Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. Sterling Bancorp had a return on equity of 8.62% and a net margin of 28.40%. The firm had revenue of $126.88 million for the quarter, compared to analysts’ expectations of $133.85 million. Equities research analysts predict that Sterling Bancorp will post $0.69 EPS for the current year.
In other news, Director Richard L. O’toole bought 4,000 shares of the stock in a transaction on Thursday, July 27th. The shares were bought at an average price of $22.60 per share, with a total value of $90,400.00. Following the completion of the acquisition, the director now owns 21,291 shares in the company, valued at $481,176.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Burt Steinberg bought 10,000 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $21.88 per share, for a total transaction of $218,800.00. Following the acquisition, the director now owns 135,146 shares of the company’s stock, valued at approximately $2,956,994.48. The disclosure for this purchase can be found here. Company insiders own 3.74% of the company’s stock.
A number of hedge funds have recently bought and sold shares of STL. First Bank & Trust lifted its holdings in Sterling Bancorp by 402.6% in the second quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 3,970 shares during the period. Riverhead Capital Management LLC lifted its holdings in Sterling Bancorp by 70.6% in the second quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 2,119 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sterling Bancorp by 51.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 1,735 shares during the period. World Asset Management Inc bought a new position in Sterling Bancorp in the first quarter valued at about $203,000. Finally, M&T Bank Corp bought a new position in Sterling Bancorp in the second quarter valued at about $205,000. 90.91% of the stock is currently owned by institutional investors.
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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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