Analysts Expect Sterling Bancorp (STL) Will Announce Earnings of $0.36 Per Share
Brokerages forecast that Sterling Bancorp (NYSE:STL) will post $0.36 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Sterling Bancorp’s earnings, with estimates ranging from $0.35 to $0.36. Sterling Bancorp reported earnings of $0.27 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Sterling Bancorp will report full year earnings of $1.39 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.40. For the next year, analysts expect that the company will report earnings of $1.70 per share, with EPS estimates ranging from $1.65 to $1.75. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Sterling Bancorp had a return on equity of 8.62% and a net margin of 28.40%. The firm had revenue of $126.88 million for the quarter, compared to analysts’ expectations of $133.85 million.
Several equities analysts have recently commented on STL shares. ValuEngine upgraded Sterling Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price objective on shares of Sterling Bancorp in a research report on Friday, May 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price objective on shares of Sterling Bancorp in a research report on Wednesday, April 12th. Royal Bank Of Canada restated a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th. Finally, Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.07.
In other news, Director Richard L. O’toole bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were bought at an average cost of $22.60 per share, for a total transaction of $90,400.00. Following the completion of the transaction, the director now owns 21,291 shares of the company’s stock, valued at $481,176.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas G. Kahn sold 2,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $23.53, for a total value of $47,060.00. Following the completion of the sale, the director now owns 44,648 shares in the company, valued at $1,050,567.44. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock worth $241,925 over the last quarter. 3.74% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. First Bank & Trust increased its stake in Sterling Bancorp by 402.6% in the second quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,970 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sterling Bancorp by 51.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,735 shares in the last quarter. LS Investment Advisors LLC increased its stake in Sterling Bancorp by 33.5% in the first quarter. LS Investment Advisors LLC now owns 6,653 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,670 shares in the last quarter. World Asset Management Inc purchased a new stake in Sterling Bancorp during the first quarter worth approximately $203,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Sterling Bancorp during the first quarter worth approximately $214,000. Institutional investors own 86.64% of the company’s stock.
Sterling Bancorp (NYSE:STL) traded down 0.022% during mid-day trading on Friday, hitting $22.975. The company’s stock had a trading volume of 847,058 shares. The stock has a market cap of $3.12 billion, a P/E ratio of 19.162 and a beta of 1.07. Sterling Bancorp has a 52-week low of $16.73 and a 52-week high of $25.85. The company’s 50 day moving average is $23.14 and its 200-day moving average is $23.41.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be given a $0.07 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.21%. Sterling Bancorp’s dividend payout ratio is currently 23.33%.
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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