Brokerages Set $14.00 Price Target for Sterling Bancorp (SBT)

Sterling Bancorp (NASDAQ:SBT) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus target price of $14.00 for the company, according to Zacks. Zacks has also assigned Sterling Bancorp an industry rank of 111 out of 255 based on the ratings given to its competitors.

A number of hedge funds and other institutional investors have recently modified their holdings of SBT. New York State Common Retirement Fund acquired a new stake in Sterling Bancorp in the 1st quarter valued at about $127,000. Engineers Gate Manager LP acquired a new stake in Sterling Bancorp in the 2nd quarter valued at about $142,000. American International Group Inc. acquired a new stake in Sterling Bancorp in the 1st quarter valued at about $151,000. GSA Capital Partners LLP acquired a new stake in Sterling Bancorp in the 2nd quarter valued at about $164,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Sterling Bancorp in the 2nd quarter valued at about $174,000. 30.67% of the stock is owned by institutional investors.

Shares of NASDAQ SBT opened at $11.25 on Thursday. Sterling Bancorp has a twelve month low of $10.81 and a twelve month high of $14.98. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 1.36.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings results on Monday, July 30th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $36.15 million during the quarter.

Sterling Bancorp Company Profile

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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