Sterling Bancorp (NYSE:STL) – Equities research analysts at Jefferies Group lowered their Q3 2016 EPS estimates for Sterling Bancorp in a report issued on Tuesday. Jefferies Group analyst C. Haire now forecasts that the brokerage will post earnings of $0.29 per share for the quarter, down from their previous forecast of $0.30. Jefferies Group has a “Buy” rating and a $18.50 price objective on the stock. Jefferies Group also issued estimates for Sterling Bancorp’s Q4 2016 earnings at $0.31 EPS and FY2016 earnings at $1.12 EPS.

Other equities analysts also recently issued research reports about the company. FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research report on Wednesday, August 31st. Keefe, Bruyette & Woods upped their target price on Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Hovde Group assumed coverage on Sterling Bancorp in a research report on Monday. They issued an “outperform” rating and a $20.00 target price on the stock. Maxim Group initiated coverage on Sterling Bancorp in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Saturday, July 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $19.10.

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

Sterling Bancorp (NYSE:STL) remained flat at $17.15 during midday trading on Friday. 219,161 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $17.42 and its 200-day moving average price is $16.57. The firm has a market cap of $2.24 billion, a PE ratio of 18.89 and a beta of 1.19. Sterling Bancorp has a 12-month low of $13.44 and a 12-month high of $17.93.

Sterling Bancorp (NYSE:STL) last released its quarterly 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 analyst estimates of $34.78 million.

Several large investors have recently modified their holdings of STL. Strs Ohio boosted its stake 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 valued at $122,000 after buying an additional 2,500 shares during the period. BlackRock Inc. boosted its stake 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 valued at $129,000 after buying an additional 4,489 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 valued at $140,000 after buying an additional 8,730 shares during the period. Sei Investments Co. boosted its stake 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 valued at $146,000 after buying an additional 5,430 shares during the period. Finally, Huntington Asset Advisors Inc. bought a new stake in shares of Sterling Bancorp during the first quarter valued at about $155,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

In related news, Director Craig S. Thompson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was 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 in the company, valued at $4,399,518. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig S. Thompson sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $16.96, for a total value of $50,880.00. Following the completion of the sale, the director now owns 259,100 shares of the company’s stock, valued at $4,394,336. The disclosure for this sale can be found here. 4.04% of the stock is owned by corporate 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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