Brokerages Set Sterling Bancorp (STL) PT at $19.80
Shares of Sterling Bancorp (NYSE:STL) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the firm. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $19.80.
Several equities analysts have recently weighed in on STL shares. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Hovde Group started coverage on shares of Sterling Bancorp in a research note on Monday, October 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Jefferies Group reissued a “buy” rating and issued a $21.00 price target on shares of Sterling Bancorp in a research note on Tuesday, November 1st. Keefe, Bruyette & Woods raised 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, FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st.
In other Sterling Bancorp news, Director James F. Deutsch sold 200,000 shares of Sterling Bancorp 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 in the company, valued at $8,595. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig S. Thompson sold 3,500 shares of Sterling Bancorp stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total transaction of $59,885.00. Following the sale, the director now owns 255,600 shares of the company’s stock, valued at $4,373,316. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company’s stock.
Large investors have recently made changes to their positions in the stock. 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 worth $122,000 after buying an additional 2,500 shares in the last quarter. 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 worth $129,000 after buying an additional 4,489 shares in the last quarter. 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 worth $140,000 after buying an additional 8,730 shares in the last quarter. 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 worth $146,000 after buying an additional 5,430 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Sterling Bancorp during the second quarter worth $167,000. Institutional investors and hedge funds own 77.81% of the company’s stock.
Shares of Sterling Bancorp (NYSE:STL) opened at 20.00 on Tuesday. The firm has a 50-day moving average of $17.65 and a 200 day moving average of $16.81. Sterling Bancorp has a 52-week low of $13.44 and a 52-week high of $20.55. The stock has a market capitalization of $2.62 billion, a PE ratio of 19.80 and a beta of 1.06.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm had revenue of $112.20 million for the quarter, compared to the consensus estimate of $122.20 million. Sterling Bancorp had a net margin of 25.55% and a return on equity of 7.90%. Equities research analysts forecast that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 21st. Investors of record on Monday, November 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, November 3rd. Sterling Bancorp’s payout ratio is currently 27.72%.
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.
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