Sterling Bancorp (NYSE:STL)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Friday, Marketbeat reports. They presently have a $26.00 target price on the financial services provider’s stock, up from their prior target price of $24.00. Royal Bank of Canada’s target price points to a potential upside of 20.54% from the stock’s previous close.
Several other research firms have also recently commented on STL. Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a research note on Monday, April 29th. DA Davidson initiated coverage on Western New England Bancorp in a research note on Thursday. They set a “neutral” rating and a $10.00 target price for the company. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Sterling Bancorp presently has an average rating of “Buy” and an average target price of $25.33.
NYSE STL opened at $21.57 on Friday. The stock has a market cap of $4.44 billion, a PE ratio of 10.44 and a beta of 1.33. Sterling Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $23.50. The business has a 50 day moving average of $20.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.97.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $262.59 million. Sterling Bancorp had a return on equity of 10.57% and a net margin of 33.40%. Sterling Bancorp’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Equities analysts anticipate that Sterling Bancorp will post 2.12 EPS for the current fiscal year.
In other news, CEO Jack L. Kopnisky sold 75,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $21.44, for a total transaction of $1,608,000.00. Following the completion of the transaction, the chief executive officer now directly owns 545,790 shares in the company, valued at approximately $11,701,737.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Rodney Whitwell sold 54,528 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $20.99, for a total value of $1,144,542.72. Following the transaction, the chief accounting officer now owns 91,252 shares of the company’s stock, valued at $1,915,379.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,396 shares of company stock valued at $3,043,774. Company insiders own 1.67% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in STL. Shine Investment Advisory Services Inc. lifted its stake in Sterling Bancorp by 137.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,150 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Sterling Bancorp by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,762 shares of the financial services provider’s stock worth $4,802,000 after purchasing an additional 2,050 shares during the last quarter. Bremer Bank National Association bought a new position in Sterling Bancorp during the first quarter worth $46,000. Lido Advisors LLC lifted its stake in Sterling Bancorp by 12.1% during the fourth quarter. Lido Advisors LLC now owns 21,476 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 2,324 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its stake in Sterling Bancorp by 27.2% during the first quarter. Palouse Capital Management Inc. now owns 13,836 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 2,956 shares during the last quarter. Institutional investors own 93.92% of the company’s stock.
About Sterling Bancorp
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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