Sterling Bancorp (NYSE:STL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada restated a “buy” rating on shares of Sterling Bancorp in a report on Tuesday, May 30th. ValuEngine upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 20th. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target on shares of Sterling Bancorp in a report on Friday, May 19th. Finally, FBR & Co set a $25.00 price target on shares of Sterling Bancorp and gave the company a “hold” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Sterling Bancorp has a consensus rating of “Buy” and an average target price of $27.21.

Shares of Sterling Bancorp (NYSE:STL) traded up 0.66% on Tuesday, reaching $22.75. The company’s stock had a trading volume of 1,087,324 shares. Sterling Bancorp has a 1-year low of $14.55 and a 1-year high of $25.85. The stock has a 50-day moving average of $22.72 and a 200 day moving average of $23.54. The stock has a market capitalization of $3.08 billion, a PE ratio of 19.33 and a beta of 1.04.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $121.63 million during the quarter, compared to analyst estimates of $127.81 million. Sterling Bancorp had a net margin of 28.23% and a return on equity of 8.36%. On average, equities analysts forecast that Sterling Bancorp will post $0.69 EPS for the current year.

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In related news, Director Craig S. Thompson sold 2,000 shares of Sterling Bancorp stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $21.62, for a total value of $43,240.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig S. Thompson sold 3,500 shares of Sterling Bancorp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $22.75, for a total transaction of $79,625.00. Following the completion of the transaction, the director now owns 225,395 shares in the company, valued at approximately $5,127,736.25. The disclosure for this sale can be found here. Insiders sold a total of 211,500 shares of company stock worth $4,875,795 in the last quarter. Insiders own 3.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Sterling Bancorp by 50,894.8% in the first quarter. BlackRock Inc. now owns 15,992,998 shares of the financial services provider’s stock valued at $379,033,000 after buying an additional 15,961,636 shares in the last quarter. Vanguard Group Inc. raised its stake in Sterling Bancorp by 5.1% in the first quarter. Vanguard Group Inc. now owns 11,689,095 shares of the financial services provider’s stock valued at $277,031,000 after buying an additional 566,776 shares in the last quarter. Wellington Management Group LLP raised its stake in Sterling Bancorp by 7.3% in the first quarter. Wellington Management Group LLP now owns 11,034,467 shares of the financial services provider’s stock valued at $261,517,000 after buying an additional 751,740 shares in the last quarter. State Street Corp raised its stake in Sterling Bancorp by 26.9% in the first quarter. State Street Corp now owns 5,931,005 shares of the financial services provider’s stock valued at $140,564,000 after buying an additional 1,257,312 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Sterling Bancorp by 10.2% in the first quarter. Alliancebernstein L.P. now owns 2,848,551 shares of the financial services provider’s stock valued at $67,511,000 after buying an additional 262,826 shares in the last quarter. Hedge funds and other institutional investors own 86.60% 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.

Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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