Sterling Bancorp (NYSE:STL) – Equities research analysts at Jefferies Group lifted their Q4 2017 EPS estimates for Sterling Bancorp in a report released on Tuesday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.39 per share for the quarter, up from their prior estimate of $0.38. Jefferies Group also issued estimates for Sterling Bancorp’s Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.44 EPS and Q4 2018 earnings at $0.46 EPS.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. BidaskClub cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. ValuEngine cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Sterling Bancorp in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Sterling Bancorp presently has a consensus rating of “Buy” and an average price target of $27.31.

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Sterling Bancorp (NYSE:STL) opened at 25.00 on Wednesday. The firm has a market capitalization of $3.39 billion, a PE ratio of 20.85 and a beta of 1.07. Sterling Bancorp has a one year low of $16.75 and a one year high of $25.85. The stock has a 50 day moving average price of $23.13 and a 200-day moving average price of $22.97.

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, hitting the Zacks’ consensus estimate of $0.33. Sterling Bancorp had a return on equity of 8.62% and a net margin of 28.40%. The business had revenue of $126.88 million during the quarter, compared to analysts’ expectations of $133.85 million.

In related news, Director Richard L. O’toole purchased 4,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was bought at an average cost of $22.60 per share, for a total transaction of $90,400.00. Following the completion of the acquisition, the director now owns 21,291 shares of the company’s stock, valued at $481,176.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Burt Steinberg purchased 10,000 shares of the stock in a transaction dated Friday, August 11th. The shares were bought 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 directly owns 135,146 shares of the company’s stock, valued at approximately $2,956,994.48. The disclosure for this purchase can be found here. 3.74% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. First Bank & Trust increased its holdings in shares of Sterling Bancorp by 402.6% during the second quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,970 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Sterling Bancorp by 70.6% during the second quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,119 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sterling Bancorp by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock worth $128,000 after buying an additional 415 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Sterling Bancorp during the second quarter worth $205,000. Finally, World Asset Management Inc increased its holdings in shares of Sterling Bancorp by 3.0% during the second quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock worth $206,000 after buying an additional 261 shares in the last quarter. Institutional investors own 90.91% 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.

Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

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