Sterling Bancorp (NYSE:STL) – Stock analysts at Jefferies Financial Group decreased their Q2 2019 EPS estimates for shares of Sterling Bancorp in a report released on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will earn $0.51 per share for the quarter, down from their prior forecast of $0.52. Jefferies Financial Group also issued estimates for Sterling Bancorp’s Q3 2019 earnings at $0.52 EPS and Q4 2019 earnings at $0.53 EPS.
STL has been the subject of a number of other research reports. Royal Bank of Canada reissued a “hold” rating and set a $0.35 price target on shares of DB Commodity Double Short ETN in a report on Friday. FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a report on Monday, April 29th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. DA Davidson began coverage on Western New England Bancorp in a report on Thursday. They issued a “neutral” rating and a $10.00 target price for the company. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.33.
Sterling Bancorp stock opened at $21.57 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.97 and a quick ratio of 0.95. Sterling Bancorp has a 52 week low of $15.62 and a 52 week high of $23.50. The firm has a market cap of $4.44 billion, a PE ratio of 10.79 and a beta of 1.33. The stock’s fifty day simple moving average is $20.60.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Sterling Bancorp had a return on equity of 10.57% and a net margin of 33.40%. The company had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $262.59 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Sterling Bancorp’s revenue was up .5% on a year-over-year basis.
In related news, insider Javier L. Evan sold 1,533 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.60, for a total transaction of $31,579.80. Following the transaction, the insider now owns 24,168 shares in the company, valued at approximately $497,860.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Rodney Whitwell sold 54,528 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $20.99, for a total value of $1,144,542.72. Following the transaction, the chief accounting officer now owns 91,252 shares in the company, valued at approximately $1,915,379.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,396 shares of company stock worth $3,043,774. 1.67% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. boosted its stake in Sterling Bancorp by 137.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,150 shares in the last quarter. Bremer Bank National Association acquired a new stake in shares of Sterling Bancorp during the first quarter worth $46,000. Dupont Capital Management Corp acquired a new stake in shares of Sterling Bancorp during the first quarter worth $173,000. FSI Group LLC acquired a new stake in shares of Sterling Bancorp during the first quarter worth $200,000. Finally, Palouse Capital Management Inc. lifted its stake in shares of Sterling Bancorp by 27.2% during the first quarter. Palouse Capital Management Inc. now owns 13,836 shares of the financial services provider’s stock worth $258,000 after buying an additional 2,956 shares during the period. Institutional investors own 93.92% of the company’s stock.
About Sterling Bancorp
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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