Sterling Bancorp (NYSE:STL) Director Richard L. O’toole purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were bought at an average price of $22.60 per share, for a total transaction of $90,400.00. Following the completion of the transaction, the director now owns 21,291 shares of the company’s stock, valued at $481,176.60. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Sterling Bancorp (STL) traded up 0.67% on Thursday, hitting $22.70. 1,346,411 shares of the company traded hands. Sterling Bancorp has a 1-year low of $16.46 and a 1-year high of $25.85. The firm’s 50 day moving average price is $23.17 and its 200 day moving average price is $23.42. The firm has a market capitalization of $3.08 billion, a PE ratio of 19.29 and a beta of 1.08.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $126.88 million for the quarter, compared to the consensus estimate of $133.85 million. Sterling Bancorp had a return on equity of 8.73% and a net margin of 28.40%. Equities research analysts predict that Sterling Bancorp will post $0.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 3rd. Sterling Bancorp’s dividend payout ratio (DPR) is presently 23.33%.

TRADEMARK VIOLATION WARNING: This article was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/07/27/richard-l-otoole-purchases-4000-shares-of-sterling-bancorp-stl-stock.html.

STL has been the topic of several analyst reports. ValuEngine upgraded Sterling Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Jefferies Group LLC reiterated a “buy” rating and set a $28.00 price target on shares of Sterling Bancorp in a research report on Friday, May 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $29.00 price target on shares of Sterling Bancorp in a research report on Wednesday, April 12th. Royal Bank Of Canada reiterated a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th. Finally, Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Sterling Bancorp presently has an average rating of “Buy” and an average target price of $27.21.

A number of hedge funds have recently modified their holdings of STL. Ronna Sue Cohen increased its stake in shares of Sterling Bancorp by 0.3% in the first quarter. Ronna Sue Cohen now owns 10,212 shares of the financial services provider’s stock valued at $242,000 after buying an additional 29 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Sterling Bancorp by 0.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 34,570 shares of the financial services provider’s stock valued at $819,000 after buying an additional 260 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Sterling Bancorp by 3.4% in the first quarter. Teacher Retirement System of Texas now owns 10,130 shares of the financial services provider’s stock valued at $240,000 after buying an additional 333 shares during the period. Aperio Group LLC increased its stake in shares of Sterling Bancorp by 1.6% in the second quarter. Aperio Group LLC now owns 22,564 shares of the financial services provider’s stock valued at $525,000 after buying an additional 347 shares during the period. Finally, Suntrust Banks Inc. increased its stake in shares of Sterling Bancorp by 1.6% in the first quarter. Suntrust Banks Inc. now owns 27,208 shares of the financial services provider’s stock valued at $644,000 after buying an additional 423 shares during the period. 86.60% of the stock is currently owned by 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.

Insider Buying and Selling by Quarter for Sterling Bancorp (NYSE:STL)

Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.