Sterling Bancorp (NYSE:STL) – Stock analysts at Jefferies Group issued their FY2018 earnings estimates for Sterling Bancorp in a research report issued on Friday. Jefferies Group analyst C. Haire forecasts that the firm will post earnings per share of $1.45 for the year. Jefferies Group has a “Buy” rating and a $18.50 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Hovde Group assumed coverage on shares of Sterling Bancorp in a research note on Monday. They set an “outperform” rating and a $20.00 price target for the company. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st. Keefe, Bruyette & Woods lifted their price target on shares of Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Maxim Group assumed coverage on shares of Sterling Bancorp in a research note on Wednesday, June 22nd. They set a “buy” rating and a $19.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $19.10.

Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

Sterling Bancorp (NYSE:STL) opened at 17.56 on Monday. Sterling Bancorp has a 52 week low of $13.44 and a 52 week high of $17.90. The company has a market cap of $2.29 billion, a P/E ratio of 19.34 and a beta of 1.19. The firm’s 50 day moving average is $17.38 and its 200-day moving average is $16.52.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. Sterling Bancorp had a net margin of 23.68% and a return on equity of 7.89%. The business had revenue of $119.51 million for the quarter, compared to the consensus estimate of $34.78 million.

A number of large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in Sterling Bancorp by 16.3% in the second quarter. Macquarie Group Ltd. now owns 1,335,742 shares of the financial services provider’s stock valued at $20,971,000 after buying an additional 187,197 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Sterling Bancorp during the second quarter valued at $369,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Sterling Bancorp by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 412,734 shares of the financial services provider’s stock valued at $6,480,000 after buying an additional 25,444 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Sterling Bancorp by 16.7% in the second quarter. Amalgamated Bank now owns 15,022 shares of the financial services provider’s stock valued at $257,000 after buying an additional 2,151 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Sterling Bancorp by 1.4% in the second quarter. Legal & General Group Plc now owns 27,437 shares of the financial services provider’s stock valued at $425,000 after buying an additional 382 shares during the last quarter. 77.83% of the stock is owned by institutional investors.

In other Sterling Bancorp news, Director Craig S. Thompson sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $16.98, for a total value of $33,960.00. Following the completion of the sale, the director now directly owns 259,100 shares of the company’s stock, valued at approximately $4,399,518. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James F. Deutsch sold 200,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $17.19, for a total transaction of $3,438,000.00. Following the completion of the sale, the director now directly owns 500 shares of the company’s stock, valued at $8,595. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by company insiders.

About Sterling Bancorp

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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