Sterling Bancorp (STL) Rating Reiterated by Keefe, Bruyette & Woods
Sterling Bancorp (NYSE:STL)‘s stock had its “buy” rating reaffirmed by Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub raised Sterling Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 target price on shares of Sterling Bancorp in a report on Friday, May 19th. Maxim Group reissued a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Sterling Bancorp in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $26.93.
Shares of Sterling Bancorp (NYSE STL) opened at 21.30 on Thursday. The firm has a market cap of $2.89 billion, a PE ratio of 17.76 and a beta of 1.07. The stock has a 50 day moving average price of $22.40 and a 200-day moving average price of $23.11. Sterling Bancorp has a 52-week low of $16.75 and a 52-week high of $25.85.
Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $126.88 million for the quarter, compared to analyst estimates of $133.85 million. Sterling Bancorp had a return on equity of 8.62% and a net margin of 28.40%. On average, equities analysts anticipate that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
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In other Sterling Bancorp news, Director Thomas G. Kahn sold 2,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $23.53, for a total value of $47,060.00. Following the completion of the transaction, the director now owns 44,648 shares in the company, valued at $1,050,567.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel James P. Blose sold 3,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $24.00, for a total transaction of $72,000.00. Following the completion of the transaction, the general counsel now owns 18,433 shares of the company’s stock, valued at approximately $442,392. The disclosure for this sale can be found here. Corporate insiders own 3.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STL. Waldron LP boosted its stake in Sterling Bancorp by 15.4% in the first quarter. Waldron LP now owns 40,433 shares of the financial services provider’s stock valued at $958,000 after acquiring an additional 5,385 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Sterling Bancorp by 9.7% in the first quarter. Russell Investments Group Ltd. now owns 425,389 shares of the financial services provider’s stock valued at $10,082,000 after acquiring an additional 37,736 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in Sterling Bancorp in the first quarter valued at $214,000. Great West Life Assurance Co. Can boosted its stake in Sterling Bancorp by 10.0% in the first quarter. Great West Life Assurance Co. Can now owns 187,503 shares of the financial services provider’s stock valued at $4,434,000 after acquiring an additional 17,037 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Sterling Bancorp in the first quarter valued at $1,653,000. Institutional investors own 91.30% 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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