Sterling Bancorp (NASDAQ:SBT) Downgraded to Strong Sell at ValuEngine

Sterling Bancorp (NASDAQ:SBT) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Wednesday, ValuEngine reports.

Several other brokerages have also recently issued reports on SBT. Zacks Investment Research upgraded shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Sandler O’Neill lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating and set a $10.50 price target on the stock. in a report on Monday, November 25th. Finally, TheStreet raised shares of Sterling Bancorp from a “d+” rating to a “c” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Sterling Bancorp has an average rating of “Hold” and a consensus target price of $11.83.

Sterling Bancorp stock opened at $9.47 on Wednesday. The business has a 50 day moving average of $9.86 and a 200-day moving average of $9.79. The company has a market capitalization of $486.47 million, a P/E ratio of 7.89 and a beta of 1.32. Sterling Bancorp has a 1 year low of $6.65 and a 1 year high of $10.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.16 and a quick ratio of 1.16.

Sterling Bancorp (NASDAQ:SBT) last posted its earnings results on Monday, October 28th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Sterling Bancorp had a net margin of 31.01% and a return on equity of 17.26%. The business had revenue of $33.18 million for the quarter, compared to the consensus estimate of $34.40 million. Equities analysts anticipate that Sterling Bancorp will post 1.08 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Sterling Bancorp by 7.8% during the third quarter. Rhumbline Advisers now owns 28,266 shares of the company’s stock worth $276,000 after buying an additional 2,044 shares during the period. Strs Ohio lifted its holdings in Sterling Bancorp by 50.0% in the third quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $73,000 after buying an additional 2,500 shares during the period. Squarepoint Ops LLC lifted its holdings in Sterling Bancorp by 46.9% in the third quarter. Squarepoint Ops LLC now owns 17,039 shares of the company’s stock valued at $166,000 after buying an additional 5,439 shares during the period. Wells Fargo & Company MN lifted its holdings in Sterling Bancorp by 21.0% in the second quarter. Wells Fargo & Company MN now owns 35,088 shares of the company’s stock valued at $349,000 after buying an additional 6,096 shares during the period. Finally, Mackay Shields LLC boosted its position in Sterling Bancorp by 10.8% during the third quarter. Mackay Shields LLC now owns 77,822 shares of the company’s stock valued at $760,000 after acquiring an additional 7,600 shares during the last quarter. 28.31% of the stock is owned by institutional investors.

About Sterling Bancorp

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.

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