Shares of Sterling Bancorp (NYSE:STL) have received an average rating of “Buy” from the six analysts that are presently covering the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.83.
A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research report on Wednesday, August 31st. Keefe, Bruyette & Woods upped their target price on shares of Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Jefferies Group reaffirmed a “buy” rating and issued a $18.50 target price on shares of Sterling Bancorp in a research report on Thursday, July 7th. Finally, Maxim Group began coverage on shares of Sterling Bancorp in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $19.00 target price on the stock.
In related news, insider Michael E. Finn sold 16,480 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $16.86, for a total transaction of $277,852.80. Following the sale, the insider now directly owns 34,822 shares of the company’s stock, valued at approximately $587,098.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Abrams sold 1,835 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $17.00, for a total transaction of $31,195.00. Following the sale, the director now directly owns 53,396 shares in the company, valued at $907,732. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in STL. Strs Ohio increased its stake in shares of Sterling Bancorp by 47.2% in the second quarter. Strs Ohio now owns 7,800 shares of the financial services provider’s stock valued at $122,000 after buying an additional 2,500 shares during the period. BlackRock Inc. increased its stake in shares of Sterling Bancorp by 126.8% in the first quarter. BlackRock Inc. now owns 8,030 shares of the financial services provider’s stock valued at $129,000 after buying an additional 4,489 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Sterling Bancorp by 5,196.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,898 shares of the financial services provider’s stock valued at $140,000 after buying an additional 8,730 shares during the period. Sei Investments Co. increased its stake in shares of Sterling Bancorp by 139.9% in the second quarter. Sei Investments Co. now owns 9,312 shares of the financial services provider’s stock valued at $146,000 after buying an additional 5,430 shares during the period. Finally, Huntington Asset Advisors Inc. purchased a new stake in shares of Sterling Bancorp during the first quarter valued at approximately $155,000. 77.83% of the stock is currently owned by institutional investors.
Shares of Sterling Bancorp (NYSE:STL) opened at 17.56 on Tuesday. The firm has a 50-day moving average of $17.38 and a 200 day moving average of $16.52. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 19.34 and a beta of 1.19. Sterling Bancorp has a 12 month low of $13.44 and a 12 month high of $17.90.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $34.78 million. Sterling Bancorp had a net margin of 23.68% and a return on equity of 7.89%. On average, analysts expect that Sterling Bancorp will post $0.69 earnings per share for the current year.
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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