Zacks: Sterling Bancorp (SBT) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of Sterling Bancorp (NASDAQ:SBT) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price target of $14.00 for the company, according to Zacks. Zacks has also assigned Sterling Bancorp an industry rank of 150 out of 255 based on the ratings given to related companies.

SBT opened at $12.50 on Tuesday. Sterling Bancorp has a fifty-two week low of $10.95 and a fifty-two week high of $14.98. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 1.36.

Sterling Bancorp (NASDAQ:SBT) last posted its quarterly earnings results on Monday, July 30th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $36.15 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Saturday, August 25th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%.

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund bought a new position in shares of Sterling Bancorp during the first quarter valued at $127,000. Engineers Gate Manager LP bought a new position in shares of Sterling Bancorp during the second quarter valued at $142,000. American International Group Inc. bought a new position in shares of Sterling Bancorp during the first quarter valued at $151,000. GSA Capital Partners LLP bought a new position in shares of Sterling Bancorp during the second quarter valued at $164,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Sterling Bancorp during the second quarter valued at $174,000. 30.67% of the stock is owned by institutional investors.

Sterling Bancorp Company Profile

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

Further Reading: Stock Symbols and CUSIP Explained

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