Sterling Bancorp (NYSE:STL)‘s stock had its “buy” rating restated by stock analysts at Maxim Group in a research note issued to investors on Wednesday. They currently have a $30.00 price objective on the financial services provider’s stock. Maxim Group’s price target points to a potential upside of 28.21% from the company’s current price.

The analysts wrote, “2Q17 core EPS of $0.33 matched consensus, with strong growth in loans (up 4.8% linked-quarter) and net interest income (up 4.0%, in spite of a narrower NIM), flat core expenses (producing a low 42% core efficiency ratio), and continued solid credit quality.””

A number of other research firms have also issued reports on STL. FBR & Co reissued a “hold” rating on shares of Sterling Bancorp in a research report on Wednesday, April 26th. BidaskClub raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Tuesday, June 20th. Stephens assumed coverage on shares of Sterling Bancorp in a research report on Wednesday, April 5th. They issued an “overweight” rating for the company. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.21.

Shares of Sterling Bancorp (NYSE STL) traded down 3.63% during midday trading on Wednesday, hitting $22.55. 1,552,913 shares of the stock were exchanged. Sterling Bancorp has a one year low of $16.46 and a one year high of $25.85. The stock’s 50-day moving average price is $23.10 and its 200 day moving average price is $23.43. The stock has a market cap of $3.06 billion, a P/E ratio of 19.16 and a beta of 1.08.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $126.88 million during the quarter, compared to analyst estimates of $133.85 million. Sterling Bancorp had a net margin of 28.23% and a return on equity of 8.36%. On average, analysts anticipate that Sterling Bancorp will post $0.69 earnings per share for the current year.

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In related news, Director Thomas G. Kahn sold 2,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $23.53, for a total value of $47,060.00. Following the transaction, the director now owns 44,648 shares in the company, valued at $1,050,567.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel James P. Blose sold 3,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $24.00, for a total value of $72,000.00. Following the completion of the transaction, the general counsel now owns 18,433 shares in the company, valued at approximately $442,392. The disclosure for this sale can be found here. Insiders sold 211,500 shares of company stock worth $4,875,795 in the last 90 days. 3.74% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust increased its position in Sterling Bancorp by 47.7% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 235,753 shares of the financial services provider’s stock worth $3,824,000 after buying an additional 76,170 shares in the last quarter. Investment Counselors of Maryland LLC increased its position in Sterling Bancorp by 0.5% in the fourth quarter. Investment Counselors of Maryland LLC now owns 1,311,420 shares of the financial services provider’s stock worth $21,271,000 after buying an additional 6,500 shares in the last quarter. Salzhauer Michael increased its position in Sterling Bancorp by 1.0% in the fourth quarter. Salzhauer Michael now owns 167,191 shares of the financial services provider’s stock worth $2,712,000 after buying an additional 1,600 shares in the last quarter. Nationwide Fund Advisors increased its position in Sterling Bancorp by 74.2% in the fourth quarter. Nationwide Fund Advisors now owns 401,759 shares of the financial services provider’s stock worth $6,517,000 after buying an additional 171,074 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Sterling Bancorp by 12.3% in the fourth quarter. Victory Capital Management Inc. now owns 3,694,604 shares of the financial services provider’s stock worth $59,926,000 after buying an additional 404,375 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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