Sterling Bancorp Forecasted to Earn Q4 2016 Earnings of $0.28 Per Share (STL)
Sterling Bancorp (NYSE:STL) – FIG Partners decreased their Q4 2016 EPS estimates for shares of Sterling Bancorp in a research note issued to investors on Thursday. FIG Partners analyst D. Bishop now forecasts that the brokerage will earn $0.28 per share for the quarter, down from their previous estimate of $0.29. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Sterling Bancorp’s Q1 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS and FY2018 earnings at $1.44 EPS.
Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, October 25th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the 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 earned $112.20 million during the quarter, compared to analyst estimates of $122.20 million.
A number of other research analysts also recently issued reports on the company. Piper Jaffray Cos. downgraded Sterling Bancorp from an “overweight” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Wednesday. Jefferies Group reiterated a “buy” rating and issued a $21.00 price target on shares of Sterling Bancorp in a 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 target on the stock in a report on Saturday, October 29th. Hovde Group assumed coverage on Sterling Bancorp in a report on Monday, October 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.83.
Shares of Sterling Bancorp (NYSE:STL) opened at 22.55 on Friday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 22.33 and a beta of 1.06. Sterling Bancorp has a 12 month low of $13.44 and a 12 month high of $22.55. The stock’s 50 day moving average price is $17.76 and its 200 day moving average price is $16.84.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Investors of record on Monday, November 7th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.28 annualized dividend and a yield of 1.24%. Sterling Bancorp’s dividend payout ratio (DPR) is 27.72%.
In other Sterling Bancorp news, Director James F. Deutsch sold 100,000 shares of Sterling Bancorp stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $17.58, for a total transaction of $1,758,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $8,790. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James F. Deutsch sold 200,000 shares of Sterling Bancorp 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 of the company’s stock, valued at approximately $8,595. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company’s stock.
A number of hedge funds 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 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 purchased a new stake in shares of Sterling Bancorp during the second quarter worth approximately $167,000. 79.17% of the stock is owned by institutional investors.
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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