James F. Deutsch Sells 200,000 Shares of Sterling Bancorp (STL) Stock
Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $19.09, for a total value of $3,818,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $9,545. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Sterling Bancorp (NYSE:STL) opened at 21.55 on Monday. Sterling Bancorp has a 1-year low of $13.44 and a 1-year high of $21.65. The firm has a market cap of $2.82 billion, a PE ratio of 21.34 and a beta of 1.06. The firm’s 50-day moving average price is $17.76 and its 200 day moving average price is $16.84.
Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, October 25th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Sterling Bancorp had a return on equity of 7.90% and a net margin of 25.55%. The company had revenue of $112.20 million for the quarter, compared to analysts’ expectations of $122.20 million. On average, equities research analysts forecast that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Shareholders 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 1.30%. The ex-dividend date of this dividend is Thursday, November 3rd. Sterling Bancorp’s payout ratio is 27.72%.
A number of institutional investors have recently added to or reduced their stakes in STL. Strs Ohio boosted its position in 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 last quarter. BlackRock Inc. boosted its position in 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 last quarter. Tower Research Capital LLC TRC boosted its position in 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 last quarter. Sei Investments Co. boosted its position in 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 last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in Sterling Bancorp during the second quarter valued at about $167,000. Institutional investors own 77.81% of the company’s stock.
Several research firms have recently weighed in on STL. Jefferies Group restated a “buy” rating and issued a $21.00 target price on shares of Sterling Bancorp in a research report on Tuesday, November 1st. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a research report on Saturday, October 29th. Hovde Group started coverage on Sterling Bancorp in a research report on Monday, October 10th. They set an “outperform” rating and a $20.00 price objective on the stock. FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a research report on Wednesday, August 31st. Finally, 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 report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $19.80.
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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