Sterling Bancorp (NYSE:STL) has earned a consensus rating of “Buy” from the six ratings firms that are covering the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.83.

A number of research firms have issued reports on STL. Keefe, Bruyette & Woods lifted their price objective on Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Maxim Group began coverage on Sterling Bancorp in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $19.00 price objective on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $18.50 price objective on shares of Sterling Bancorp in a research note on Thursday, July 7th. Finally, FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st.

In other news, Director James F. Deutsch sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $17.58, for a total transaction of $1,758,000.00. Following the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $8,790. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Abrams sold 1,835 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $17.00, for a total value of $31,195.00. Following the transaction, the director now directly owns 53,396 shares in the company, valued at approximately $907,732. The disclosure for this sale can be found here. Insiders own 4.04% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Sterling Bancorp by 3.5% in the second quarter. Vanguard Group Inc. now owns 9,562,301 shares of the financial services provider’s stock valued at $150,128,000 after buying an additional 323,255 shares in the last quarter. BlackRock Fund Advisors increased its position in Sterling Bancorp by 4.8% in the second quarter. BlackRock Fund Advisors now owns 7,822,243 shares of the financial services provider’s stock valued at $122,809,000 after buying an additional 356,897 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Sterling Bancorp by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,645,149 shares of the financial services provider’s stock valued at $120,027,000 after buying an additional 258,012 shares in the last quarter. Wellington Management Group LLP boosted its position in Sterling Bancorp by 68.6% in the first quarter. Wellington Management Group LLP now owns 5,580,851 shares of the financial services provider’s stock worth $88,903,000 after buying an additional 2,269,760 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in Sterling Bancorp by 58.5% in the second quarter. Systematic Financial Management LP now owns 4,766,082 shares of the financial services provider’s stock worth $74,827,000 after buying an additional 1,759,939 shares during the last quarter. 77.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sterling Bancorp (NYSE:STL) opened at 17.56 on Tuesday. The company has a 50-day moving average price of $17.38 and a 200-day moving average price of $16.51. Sterling Bancorp has a 52 week low of $13.44 and a 52 week high of $17.90. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 19.34 and a beta of 1.19.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.01. The business had revenue of $119.51 million for the quarter, compared to the consensus estimate of $34.78 million. Sterling Bancorp had a net margin of 23.68% and a return on equity of 7.89%. Equities analysts anticipate that Sterling Bancorp will post $0.69 EPS for the current year.

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.

5 Day Chart for NYSE:STL

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