Sterling Bancorp (STL) Expected to Post Q1 2017 Earnings of $0.30 Per Share
Sterling Bancorp (NYSE:STL) – Jefferies Group issued their Q1 2017 earnings per share estimates for shares of Sterling Bancorp in a report issued on Tuesday. Jefferies Group analyst C. Haire anticipates that the brokerage will earn $0.30 per share for the quarter. Jefferies Group has a “Buy” rating and a $18.50 price objective on the stock. Jefferies Group also issued estimates for Sterling Bancorp’s Q2 2017 earnings at $0.32 EPS, Q3 2017 earnings at $0.33 EPS and Q4 2017 earnings at $0.34 EPS.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. Sterling Bancorp had a return on equity of 7.89% and a net margin of 23.68%. The company had revenue of $119.51 million for the quarter, compared to the consensus estimate of $34.78 million.
Other research analysts also recently issued research reports about the stock. FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a research report on Wednesday, August 31st. Keefe, Bruyette & Woods upped their price target on shares of Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Hovde Group assumed coverage on shares of Sterling Bancorp in a research report on Monday. They set an “outperform” rating and a $20.00 price target on the stock. Maxim Group assumed coverage on shares of Sterling Bancorp in a research report on Wednesday, June 22nd. They set a “buy” rating and a $19.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Saturday, July 30th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Sterling Bancorp currently has an average rating of “Buy” and a consensus target price of $19.10.
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Sterling Bancorp (NYSE:STL) traded down 2.83% during mid-day trading on Thursday, hitting $17.15. 262,263 shares of the company’s stock were exchanged. Sterling Bancorp has a 52 week low of $13.44 and a 52 week high of $17.93. The stock has a market capitalization of $2.24 billion, a P/E ratio of 18.89 and a beta of 1.19. The firm has a 50 day moving average of $17.43 and a 200 day moving average of $16.56.
In related news, Director James F. Deutsch sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $17.58, for a total value of $1,758,000.00. Following the sale, the director now directly owns 500 shares in the company, valued at approximately $8,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard L. O’toole purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was purchased at an average price of $17.40 per share, for a total transaction of $52,200.00. Following the completion of the transaction, the director now directly owns 15,796 shares in the company, valued at $274,850.40. The disclosure for this purchase can be found here. Company insiders own 4.04% of the company’s stock.
Several hedge funds have recently made changes to their positions in STL. Strs Ohio increased its stake in shares of 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 shares of 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 shares of 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 shares of 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. purchased a new stake in shares of Sterling Bancorp during the first quarter worth $155,000. Institutional investors and hedge funds own 77.83% of the company’s stock.
About Sterling Bancorp
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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