Sterling Bancorp (STL) Receives Consensus Rating of “Buy” from Analysts

Sterling Bancorp (NYSE:STL) has received an average recommendation of “Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.36.

A number of research firms have issued reports on STL. Maxim Group lifted their target price on Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. JMP Securities began coverage on Sterling Bancorp in a research report on Monday, November 20th. They issued a “market perform” rating and a $25.85 target price on the stock. Jefferies Group reiterated a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a research report on Thursday, January 25th. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $29.00 price target on shares of Sterling Bancorp in a report on Thursday, October 12th.

In related news, Director James F. Deutsch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $25.31, for a total value of $2,531,000.00. Following the sale, the director now directly owns 500 shares in the company, valued at $12,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Monte N. Redman sold 165,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $23.93, for a total value of $3,948,450.00. Following the completion of the sale, the director now owns 428,077 shares in the company, valued at $10,243,882.61. The disclosure for this sale can be found here. Insiders own 3.74% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Sterling Bancorp by 38.2% in the second quarter. State Street Corp now owns 8,198,819 shares of the financial services provider’s stock valued at $190,624,000 after acquiring an additional 2,267,814 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Sterling Bancorp by 54.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,053,762 shares of the financial services provider’s stock valued at $124,323,000 after acquiring an additional 1,789,102 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Sterling Bancorp by 51.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,683,581 shares of the financial services provider’s stock valued at $66,015,000 after acquiring an additional 907,999 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Sterling Bancorp by 12.2% in the third quarter. Macquarie Group Ltd. now owns 2,413,557 shares of the financial services provider’s stock valued at $59,494,000 after acquiring an additional 262,560 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Sterling Bancorp by 25.5% in the third quarter. Bank of New York Mellon Corp now owns 2,208,095 shares of the financial services provider’s stock valued at $54,429,000 after acquiring an additional 448,949 shares during the last quarter. Institutional investors and hedge funds own 91.70% of the company’s stock.

Sterling Bancorp (STL) traded up $0.17 during trading on Friday, reaching $22.82. The company’s stock had a trading volume of 2,547,376 shares, compared to its average volume of 1,947,130. Sterling Bancorp has a 1 year low of $21.00 and a 1 year high of $26.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $5,349.83, a PE ratio of 29.68 and a beta of 1.06.

Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. The firm had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $267.08 million. The business’s quarterly revenue was up 115.3% on a year-over-year basis. research analysts forecast that Sterling Bancorp will post 1.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, February 2nd. Sterling Bancorp’s dividend payout ratio (DPR) is currently 36.36%.

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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.

Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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