Sterling Bancorp (STL) Director James F. Deutsch Sells 100,000 Shares
Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 100,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $20.16, for a total value of $2,016,000.00. Following the sale, the director now owns 500 shares of the company’s stock, valued at approximately $10,080. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Sterling Bancorp (NYSE:STL) traded down 2.403% during trading on Thursday, reaching $21.325. The company’s stock had a trading volume of 2,368,375 shares. The stock has a market cap of $2.79 billion, a P/E ratio of 21.114 and a beta of 1.06. The firm’s 50-day moving average is $18.19 and its 200-day moving average is $16.97. Sterling Bancorp has a 52-week low of $13.44 and a 52-week high of $22.88.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $112.20 million for the quarter, compared to the consensus estimate of $122.20 million. Equities research analysts forecast that Sterling Bancorp will post $0.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 21st. Stockholders of record on Monday, November 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 3rd. Sterling Bancorp’s payout ratio is 27.72%.
STL has been the subject of several recent analyst reports. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating and set a $20.00 price target for the company in a research note on Saturday, October 29th. Hovde Group initiated coverage on Sterling Bancorp in a research note on Monday, October 10th. They set an “outperform” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods upped their price target on Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Jefferies Group reiterated a “buy” rating and set a $21.00 price target on shares of Sterling Bancorp in a research note on Tuesday, November 1st. Finally, Piper Jaffray Cos. downgraded Sterling Bancorp from an “overweight” rating to a “neutral” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.80.
Several institutional investors have recently made changes to their positions in the stock. Strs Ohio boosted 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 valued at $122,000 after buying an additional 2,500 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Sterling Bancorp during the second quarter valued at $12,643,000. Parametrica Management Ltd bought a new position in shares of Sterling Bancorp during the second quarter valued at $191,000. Capstone Asset Management Co. boosted its position in shares of Sterling Bancorp by 1.2% in the second quarter. Capstone Asset Management Co. now owns 28,814 shares of the financial services provider’s stock valued at $452,000 after buying an additional 350 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Sterling Bancorp by 126.6% in the second quarter. BNP Paribas Arbitrage SA now owns 38,924 shares of the financial services provider’s stock valued at $611,000 after buying an additional 21,748 shares during the last quarter. Institutional investors own 79.17% 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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