Zacks Investment Research lowered shares of Sterling Bancorp (NASDAQ:SBT) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Sterling Bancorp, Inc. is a unitary thrift holding company with its primary branch operations in San Francisco and Los Angeles, California. The company through its wholly owned bank subsidiary, Sterling Bank and Trust, F.S.B., Sterling offers loan products to the residential and commercial markets, as well as retail banking services. Sterling Bancorp, Inc. is headquartered in Southfield, Michigan. “

Separately, Hovde Group started coverage on Sterling Bancorp in a research report on Friday, January 29th. They set an outperform rating and a $6.00 price objective on the stock.

Shares of SBT stock opened at $5.36 on Wednesday. Sterling Bancorp has a 1-year low of $2.61 and a 1-year high of $5.95. The stock’s 50-day moving average is $5.46 and its 200 day moving average is $4.48. The company has a market cap of $268.02 million, a P/E ratio of 4.83 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.12 and a quick ratio of 1.12.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings data on Sunday, January 31st. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). Sterling Bancorp had a net margin of 7.67% and a return on equity of 3.83%. The company had revenue of $25.74 million for the quarter, compared to the consensus estimate of $25.90 million. On average, analysts anticipate that Sterling Bancorp will post -0.03 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in SBT. Squarepoint Ops LLC raised its stake in Sterling Bancorp by 144.2% in the third quarter. Squarepoint Ops LLC now owns 37,979 shares of the company’s stock valued at $114,000 after buying an additional 22,425 shares during the last quarter. Rhumbline Advisers raised its stake in Sterling Bancorp by 13.3% in the fourth quarter. Rhumbline Advisers now owns 29,291 shares of the company’s stock valued at $133,000 after buying an additional 3,449 shares during the last quarter. Wells Fargo & Company MN raised its stake in Sterling Bancorp by 8.6% in the fourth quarter. Wells Fargo & Company MN now owns 55,266 shares of the company’s stock valued at $251,000 after buying an additional 4,387 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Sterling Bancorp by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,000 shares of the company’s stock valued at $311,000 after buying an additional 4,088 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Sterling Bancorp by 104.8% in the fourth quarter. JPMorgan Chase & Co. now owns 69,448 shares of the company’s stock valued at $315,000 after buying an additional 35,546 shares during the last quarter. Institutional investors own 23.99% of the company’s stock.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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