Sterling Bancorp Expected to Post FY2018 Earnings of $1.45 Per Share (STL)
Sterling Bancorp (NYSE:STL) – Investment analysts at Jefferies Group issued their FY2018 earnings estimates for shares of Sterling Bancorp in a research note issued on Friday. Jefferies Group analyst C. Haire forecasts that the brokerage will earn $1.45 per share for the year. Jefferies Group currently has a “Buy” rating and a $18.50 target price on the stock.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. Sterling Bancorp had a net margin of 23.68% and a return on equity of 7.89%. The company earned $119.51 million during the quarter, compared to analyst estimates of $34.78 million.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Sterling Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Saturday, July 30th. Maxim Group initiated coverage on Sterling Bancorp in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $19.00 price objective on the stock. Hovde Group initiated coverage on Sterling Bancorp in a research note on Monday. They issued an “outperform” rating and a $20.00 price objective on the stock. FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sterling Bancorp presently has an average rating of “Buy” and an average target price of $19.10.
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Sterling Bancorp (NYSE:STL) opened at 17.56 on Monday. Sterling Bancorp has a 52-week low of $13.44 and a 52-week high of $17.90. The company has a 50 day moving average price of $17.38 and a 200-day moving average price of $16.52. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 19.34 and a beta of 1.19.
In related news, Director Richard L. O’toole acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was acquired at an average price of $17.40 per share, for a total transaction of $52,200.00. Following the completion of the acquisition, the director now owns 15,796 shares of the company’s stock, valued at approximately $274,850.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James F. Deutsch sold 200,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $17.19, for a total value of $3,438,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $8,595. The disclosure for this sale can be found here. Insiders own 4.04% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in Sterling Bancorp by 47.2% in the second quarter. Strs Ohio now owns 7,800 shares of the financial services provider’s stock worth $122,000 after buying an additional 2,500 shares in the last quarter. BlackRock Inc. increased its stake in Sterling Bancorp by 126.8% in the first quarter. BlackRock Inc. now owns 8,030 shares of the financial services provider’s stock worth $129,000 after buying an additional 4,489 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Sterling Bancorp by 5,196.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,898 shares of the financial services provider’s stock worth $140,000 after buying an additional 8,730 shares in the last quarter. Sei Investments Co. increased its stake in Sterling Bancorp by 139.9% in the second quarter. Sei Investments Co. now owns 9,312 shares of the financial services provider’s stock worth $146,000 after buying an additional 5,430 shares in the last quarter. Finally, Huntington Asset Advisors Inc. bought a new stake in Sterling Bancorp during the first quarter worth approximately $155,000. Institutional investors and hedge funds own 77.83% of the company’s stock.
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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