Several brokerages have updated their recommendations and price targets on shares of Sterling Bancorp (NYSE: STL) in the last few weeks:

  • 9/16/2017 – Sterling Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 9/14/2017 – Sterling Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 9/8/2017 – Sterling Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 9/7/2017 – Sterling Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 9/7/2017 – Sterling Bancorp had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 9/7/2017 – Sterling Bancorp was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/1/2017 – Sterling Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 8/29/2017 – Sterling Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 8/25/2017 – Sterling Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 7/29/2017 – Sterling Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York. “
  • 7/26/2017 – Sterling Bancorp had its “buy” rating reaffirmed by analysts at Maxim Group. They now have a $30.00 price target on the stock. They wrote, “2Q17 core EPS of $0.33 matched consensus, with strong growth in loans (up 4.8% linked-quarter) and net interest income (up 4.0%, in spite of a narrower NIM), flat core expenses (producing a low 42% core efficiency ratio), and continued solid credit quality.””
  • 7/25/2017 – Sterling Bancorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Sterling Bancorp (STL) opened at 22.45 on Monday. The firm has a market cap of $3.05 billion, a P/E ratio of 18.72 and a beta of 1.07. The stock’s 50 day moving average is $22.33 and its 200-day moving average is $23.01. Sterling Bancorp has a one year low of $16.75 and a one year high of $25.85.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.33. The company had revenue of $126.88 million for the quarter, compared to the consensus estimate of $133.85 million. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. Analysts anticipate that Sterling Bancorp will post $0.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, August 3rd. Sterling Bancorp’s payout ratio is currently 23.33%.

In other news, Director Richard L. O’toole purchased 4,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was acquired at an average cost of $22.60 per share, with a total value of $90,400.00. Following the acquisition, the director now owns 21,291 shares in the company, valued at $481,176.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Burt Steinberg purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $21.88 per share, with a total value of $218,800.00. Following the completion of the acquisition, the director now owns 135,146 shares in the company, valued at approximately $2,956,994.48. The disclosure for this purchase can be found here. 3.74% of the stock is owned by corporate insiders.

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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