Sterling Bancorp (NYSE:STL) General Counsel James P. Blose sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $22.25, for a total transaction of $44,500.00. Following the transaction, the general counsel now owns 20,322 shares in the company, valued at $452,164.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sterling Bancorp stock opened at $22.10 on Friday. The stock has a market cap of $5.05 billion, a PE ratio of 15.79 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. Sterling Bancorp has a fifty-two week low of $21.75 and a fifty-two week high of $25.65.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $276.81 million during the quarter, compared to the consensus estimate of $272.26 million. Sterling Bancorp had a net margin of 20.19% and a return on equity of 9.67%. Sterling Bancorp’s revenue was up 110.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. research analysts expect that Sterling Bancorp will post 1.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Monday, August 6th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, August 3rd. Sterling Bancorp’s payout ratio is 20.00%.

Several research firms have recently weighed in on STL. Zacks Investment Research upgraded shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. Maxim Group restated a “buy” rating and set a $32.00 price objective on shares of Sterling Bancorp in a research note on Wednesday, April 25th. ValuEngine lowered shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, Citigroup began coverage on shares of Sterling Bancorp in a research note on Monday, June 18th. They set a “neutral” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.84.

Several hedge funds have recently made changes to their positions in STL. Raymond James & Associates boosted its holdings in shares of Sterling Bancorp by 6.7% during the 4th quarter. Raymond James & Associates now owns 54,132 shares of the financial services provider’s stock worth $1,332,000 after buying an additional 3,385 shares during the period. LPL Financial LLC bought a new stake in shares of Sterling Bancorp during the 4th quarter worth about $451,000. Envestnet Asset Management Inc. boosted its holdings in shares of Sterling Bancorp by 79.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,092 shares of the financial services provider’s stock worth $346,000 after buying an additional 6,247 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sterling Bancorp by 11.7% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 739,414 shares of the financial services provider’s stock worth $16,674,000 after buying an additional 77,630 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Sterling Bancorp by 6.6% during the 1st quarter. Wells Fargo & Company MN now owns 2,860,145 shares of the financial services provider’s stock worth $64,497,000 after buying an additional 176,564 shares during the period. 91.61% of the stock is owned by institutional investors and hedge funds.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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