Sterling Bancorp PT Raised to $15.00 (STL)
Equities research analysts at Jefferies Group upped their price objective on shares of Sterling Bancorp (NYSE:STL) from $14.00 to $15.00 in a research note issued to investors on Thursday. Jefferies Group’s price target would indicate a potential upside of 26.80% from the stock’s previous close.
Sterling Bancorp (NYSE:STL) traded down 0.59% during mid-day trading on Thursday, hitting $11.83. 348,533 shares of the company’s stock traded hands. Sterling Bancorp has a 52 week low of $10.00 and a 52 week high of $13.52. The stock has a 50-day moving average of $12.02 and a 200-day moving average of $12.18. The company has a market cap of $989.0 million and a price-to-earnings ratio of 50.21.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.01. Analysts expect that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, July 31st.
Several other analysts have also recently commented on the stock. Analysts at Raymond James initiated coverage on shares of Sterling Bancorp in a research note on Thursday, July 3rd. They set an “outperform” rating and a $14.00 price target on the stock. Analysts at Guggenheim initiated coverage on shares of Sterling Bancorp in a research note on Friday, June 6th. They set a “buy” rating and a $14.00 price target on the stock.
Sterling Bancorp is a bank holding company and a financial holding company. The Company and its subsidiaries provide banking and related financial services and products to customers primarily in New York, New Jersey and Connecticut (NYSE:STL).
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