Sterling Bancorp (NYSE:STL) Director Monte N. Redman sold 165,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $23.93, for a total value of $3,948,450.00. Following the completion of the sale, the director now owns 428,077 shares of the company’s stock, valued at approximately $10,243,882.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Sterling Bancorp (STL) opened at $25.30 on Friday. Sterling Bancorp has a fifty-two week low of $21.00 and a fifty-two week high of $25.85. The stock has a market capitalization of $5,696.32, a PE ratio of 19.65 and a beta of 1.04. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.76.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a return on equity of 9.08% and a net margin of 28.58%. The business had revenue of $134.06 million during the quarter, compared to the consensus estimate of $135.09 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. sell-side analysts predict that Sterling Bancorp will post 1.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were issued a $0.07 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.11%. Sterling Bancorp’s dividend payout ratio (DPR) is currently 22.58%.

STL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price objective on shares of Sterling Bancorp in a report on Thursday, October 12th. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Friday, August 25th. ValuEngine downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. JMP Securities initiated coverage on Sterling Bancorp in a report on Monday, November 20th. They issued a “market perform” rating and a $25.85 price objective for the company. Finally, Royal Bank Of Canada dropped their price objective on Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Sterling Bancorp currently has a consensus rating of “Buy” and an average target price of $27.48.

Institutional investors have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC increased its holdings in shares of Sterling Bancorp by 180.4% in the third quarter. Quantitative Systematic Strategies LLC now owns 88,234 shares of the financial services provider’s stock worth $2,175,000 after acquiring an additional 56,763 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Sterling Bancorp by 11.8% during the second quarter. Legal & General Group Plc now owns 262,495 shares of the financial services provider’s stock worth $6,105,000 after buying an additional 27,635 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Sterling Bancorp by 139.6% during the third quarter. LS Investment Advisors LLC now owns 15,939 shares of the financial services provider’s stock worth $393,000 after buying an additional 9,286 shares in the last quarter. Advantus Capital Management Inc bought a new position in shares of Sterling Bancorp during the third quarter worth about $493,000. Finally, Stifel Financial Corp grew its holdings in shares of Sterling Bancorp by 3.8% during the second quarter. Stifel Financial Corp now owns 199,585 shares of the financial services provider’s stock worth $4,639,000 after buying an additional 7,313 shares in the last quarter. Institutional investors own 91.70% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Sterling Bancorp (NYSE:STL)

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