Sterling Bancorp (NYSE:STL) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other analysts have also recently commented on STL. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Sterling Bancorp in a research note on Thursday. BidaskClub raised Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Sterling Bancorp currently has an average rating of “Buy” and a consensus price target of $27.07.

Shares of Sterling Bancorp (NYSE:STL) traded down 2.76% during mid-day trading on Thursday, hitting $21.15. The company had a trading volume of 1,861,918 shares. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.64 and a beta of 1.07. The company has a 50-day moving average price of $22.44 and a 200-day moving average price of $23.12. Sterling Bancorp has a 1-year low of $16.75 and a 1-year high of $25.85.

Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 net margin of 28.40% and a return on equity of 8.62%. On average, equities analysts anticipate that Sterling Bancorp will post $0.69 EPS for the current year.

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In other Sterling Bancorp news, Director Burt Steinberg bought 10,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $21.88 per share, with a total value of $218,800.00. Following the purchase, the director now owns 135,146 shares in the company, valued at $2,956,994.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. O’toole bought 4,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were acquired at an average cost of $22.60 per share, with a total value of $90,400.00. Following the completion of the purchase, the director now owns 21,291 shares in the company, valued at approximately $481,176.60. The disclosure for this purchase can be found here. 3.74% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of STL. First Bank & Trust increased its stake in Sterling Bancorp by 402.6% during the 2nd quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 3,970 shares in the last quarter. Riverhead Capital Management LLC increased its stake in Sterling Bancorp by 70.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 2,119 shares in the last quarter. Tyers Asset Management LLC bought a new stake in Sterling Bancorp during the 4th quarter worth approximately $121,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sterling Bancorp by 51.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Strs Ohio increased its stake in Sterling Bancorp by 47.2% during the 2nd quarter. Strs Ohio now owns 7,800 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 2,500 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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