Sterling Bancorp (STL) Receives Average Recommendation of “Buy” from Analysts
Sterling Bancorp (NYSE:STL) has been given an average recommendation of “Buy” by the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $27.07.
Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Sterling Bancorp in a research report on Friday, May 19th. FBR & Co reaffirmed a “hold” rating on shares of Sterling Bancorp in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th.
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In related news, Director Burt Steinberg bought 10,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $21.88 per share, with a total value of $218,800.00. Following the completion of the acquisition, the director now owns 135,146 shares of the company’s stock, valued at $2,956,994.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel James P. Blose sold 3,000 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $24.00, for a total transaction of $72,000.00. Following the completion of the transaction, the general counsel now directly owns 18,433 shares of the company’s stock, valued at approximately $442,392. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $162,300 in the last three months. Company insiders own 3.74% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in Sterling Bancorp by 10.0% in the first quarter. Great West Life Assurance Co. Can now owns 187,503 shares of the financial services provider’s stock worth $4,434,000 after buying an additional 17,037 shares during the period. Tocqueville Asset Management L.P. bought a new position in Sterling Bancorp during the first quarter worth approximately $214,000. Monarch Partners Asset Management LLC boosted its position in Sterling Bancorp by 237.6% in the first quarter. Monarch Partners Asset Management LLC now owns 871,973 shares of the financial services provider’s stock worth $20,666,000 after buying an additional 613,710 shares during the period. OTA Financial Group L.P. bought a new position in Sterling Bancorp during the first quarter worth approximately $425,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Sterling Bancorp by 304.2% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 185,283 shares of the financial services provider’s stock worth $4,391,000 after buying an additional 139,440 shares during the period. 87.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Sterling Bancorp (NYSE:STL) traded down 0.23% during midday trading on Friday, hitting $21.90. 1,067,800 shares of the company were exchanged. Sterling Bancorp has a one year low of $16.75 and a one year high of $25.85. The company has a market capitalization of $2.97 billion, a P/E ratio of 18.27 and a beta of 1.07. The company has a 50-day moving average of $22.92 and a 200 day moving average of $23.31.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. The business had revenue of $126.88 million during the quarter, compared to analysts’ expectations of $133.85 million. On average, equities research analysts expect that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.28%. Sterling Bancorp’s dividend payout ratio (DPR) is currently 23.33%.
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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