Sterling Bancorp (STL) Now Covered by Hovde Group
Stock analysts at Hovde Group began coverage on shares of Sterling Bancorp (NYSE:STL) in a research note issued to investors on Monday. The firm set an “outperform” rating and a $20.00 price target on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 13.90% from the stock’s previous close.
Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods upped their price target on Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. 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 target on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $18.50 price target on shares of Sterling Bancorp in a research note on Thursday, July 7th. Finally, FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.10.
Sterling Bancorp (NYSE:STL) opened at 17.56 on Monday. The firm has a 50-day moving average price of $17.38 and a 200 day moving average price of $16.52. Sterling Bancorp has a 1-year low of $13.44 and a 1-year high of $17.90. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 19.34 and a beta of 1.19.
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Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ 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 business earned $119.51 million during the quarter, compared to analyst estimates of $34.78 million. On average, equities research analysts anticipate that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
In related news, Director James F. Deutsch sold 100,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $17.58, for a total transaction of $1,758,000.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $8,790. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig S. Thompson sold 2,000 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $16.98, for a total value of $33,960.00. Following the transaction, the director now directly owns 259,100 shares in the company, valued at approximately $4,399,518. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. bought a new stake in Sterling Bancorp during the first quarter worth about $337,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Sterling Bancorp by 4.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,858 shares of the financial services provider’s stock worth $173,000 after buying an additional 475 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Sterling Bancorp by 8.7% in the first quarter. TIAA CREF Investment Management LLC now owns 616,396 shares of the financial services provider’s stock worth $9,819,000 after buying an additional 49,334 shares in the last quarter. Teachers Advisors Inc. raised its stake in Sterling Bancorp by 1.2% in the first quarter. Teachers Advisors Inc. now owns 893,184 shares of the financial services provider’s stock worth $14,228,000 after buying an additional 10,750 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Sterling Bancorp by 12.3% in the first quarter. Prudential Financial Inc. now owns 315,074 shares of the financial services provider’s stock worth $5,019,000 after buying an additional 34,400 shares in the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.
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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