Sterling Bancorp (NYSE:STL) declared a quarterly dividend on Tuesday, January 23rd, RTT News reports. Stockholders of record on Monday, February 5th will be given a dividend of 0.07 per share by the financial services provider on Tuesday, February 20th. This represents a $0.28 annualized dividend and a dividend yield of 1.07%.
Sterling Bancorp has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sterling Bancorp to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 14.9%.
Sterling Bancorp (STL) traded up $0.05 during mid-day trading on Tuesday, hitting $26.25. 1,560,000 shares of the stock traded hands, compared to its average volume of 1,970,000. Sterling Bancorp has a 1 year low of $21.00 and a 1 year high of $26.50. The stock has a market capitalization of $5,900.00, a price-to-earnings ratio of 21.17 and a beta of 1.04. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.76.
Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $29.00 price target on shares of Sterling Bancorp in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Maxim Group reissued a “buy” rating and set a $30.00 price target on shares of Sterling Bancorp in a research report on Wednesday, October 25th. Royal Bank of Canada reduced their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, October 3rd. Finally, JMP Securities assumed coverage on shares of Sterling Bancorp in a research report on Monday, November 20th. They set a “market perform” rating and a $25.85 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.86.
In other Sterling Bancorp news, Director James F. Deutsch sold 300,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $25.31, for a total value of $7,593,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $12,655. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James F. Deutsch sold 100,000 shares of Sterling Bancorp stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $25.31, for a total transaction of $2,531,000.00. Following the completion of the sale, the director now directly owns 500 shares of the company’s stock, valued at approximately $12,655. The disclosure for this sale can be found here. In the last ninety days, insiders sold 753,635 shares of company stock valued at $18,727,028. 3.74% of the stock is currently owned by insiders.
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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