Favorable Press Coverage Unlikely to Affect Sterling Bancorp (STL) Share Price
Press coverage about Sterling Bancorp (NYSE:STL) has been trending positive this week, according to Accern Sentiment. Accern identifies negative and positive news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Sterling Bancorp earned a coverage optimism score of 0.30 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 35 out of 100, indicating that recent news coverage is unlikely to have an effect on the stock’s share price in the near future.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Steven Levi Joins Sterling National Bank’s Commercial Banking Team (finance.yahoo.com)
- Ex-Dividend Reminder: Sterling Bancorp, Lazard and Vornado Realty Trust (nasdaq.com)
- Sterling Bancorp Sees RS Rating Rise To 71 (investors.com)
- Sterling Bancorp breached its 50 day moving average in a Bullish Manner : STL-US : August 1, 2017 (finance.yahoo.com)
- Peter Welch Joins Sterling National Bank’s Long Island Team (finance.yahoo.com)
Sterling Bancorp (NYSE:STL) traded up 0.30% during midday trading on Thursday, reaching $23.05. 1,855,747 shares of the company’s stock were exchanged. Sterling Bancorp has a 52 week low of $16.73 and a 52 week high of $25.85. The firm has a market capitalization of $3.13 billion, a P/E ratio of 19.21 and a beta of 1.07. The stock’s 50 day moving average is $23.14 and its 200 day moving average is $23.41.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $126.88 million during the quarter, compared to analyst estimates of $133.85 million. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. On average, analysts expect that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, August 3rd. Sterling Bancorp’s payout ratio is presently 23.33%.
Several analysts recently issued reports on the stock. BidaskClub cut shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Maxim Group reissued a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, July 26th. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Saturday, July 29th. FBR & Co assumed coverage on shares of Sterling Bancorp in a research note on Tuesday, April 11th. They issued a “mkt perform” rating and a $25.00 price target for the company. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. Sterling Bancorp currently has a consensus rating of “Buy” and an average target price of $27.07.
In other news, Director Craig S. Thompson sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $21.62, for a total value of $43,240.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Craig S. Thompson sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $22.75, for a total transaction of $79,625.00. Following the completion of the sale, the director now owns 225,395 shares in the company, valued at approximately $5,127,736.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,500 shares of company stock worth $241,925. Insiders own 3.74% of the company’s stock.
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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