Sterling Bancorp (STL) Expected to Post Q1 2017 Earnings of $0.30 Per Share
Sterling Bancorp (NYSE:STL) – Equities researchers at Jefferies Group issued their Q1 2017 earnings per share estimates for shares of Sterling Bancorp in a report issued on Tuesday. Jefferies Group analyst C. Haire expects that the firm will earn $0.30 per share for the quarter. Jefferies Group has a “Buy” rating and a $18.50 price target on the stock. Jefferies Group also issued estimates for Sterling Bancorp’s Q2 2017 earnings at $0.32 EPS, Q3 2017 earnings at $0.33 EPS and Q4 2017 earnings at $0.34 EPS.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Sterling Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Saturday, July 30th. Maxim Group started 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. Hovde Group initiated coverage on Sterling Bancorp in a research note on Monday. They issued an “outperform” rating and a $20.00 price objective on the stock. FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.10.
Sterling Bancorp (NYSE:STL) traded down 2.83% during midday trading on Thursday, hitting $17.15. The stock had a trading volume of 262,263 shares. Sterling Bancorp has a 1-year low of $13.44 and a 1-year high of $17.93. The stock’s 50-day moving average is $17.43 and its 200-day moving average is $16.56. The stock has a market capitalization of $2.24 billion, a PE ratio of 18.89 and a beta of 1.19.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share 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 return on equity of 7.89% and a net margin of 23.68%.
A number of hedge funds have recently modified their holdings of STL. Strs Ohio raised its position in shares of Sterling Bancorp by 47.2% in the second quarter. Strs Ohio now owns 7,800 shares of the financial services provider’s stock worth $122,000 after buying an additional 2,500 shares in the last quarter. BlackRock Inc. raised its position in shares of Sterling Bancorp by 126.8% in the first quarter. BlackRock Inc. now owns 8,030 shares of the financial services provider’s stock worth $129,000 after buying an additional 4,489 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Sterling Bancorp by 5,196.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,898 shares of the financial services provider’s stock worth $140,000 after buying an additional 8,730 shares in the last quarter. Sei Investments Co. raised its position in shares of Sterling Bancorp by 139.9% in the second quarter. Sei Investments Co. now owns 9,312 shares of the financial services provider’s stock worth $146,000 after buying an additional 5,430 shares in the last quarter. Finally, Huntington Asset Advisors Inc. acquired a new position in shares of Sterling Bancorp during the first quarter worth $155,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Craig S. Thompson sold 3,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $16.96, for a total transaction of $50,880.00. Following the sale, the director now owns 259,100 shares of the company’s stock, valued at approximately $4,394,336. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James F. Deutsch sold 200,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $17.19, for a total value of $3,438,000.00. Following the sale, the director now directly owns 500 shares in the company, valued at approximately $8,595. The disclosure for this sale can be found here. Insiders own 4.04% of the company’s stock.
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.
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