Sterling Bancorp (NYSE:STL) Director Craig S. Thompson sold 3,500 shares of Sterling Bancorp stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $22.75, for a total value of $79,625.00. Following the completion of the sale, the director now owns 225,395 shares of the company’s stock, valued at $5,127,736.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Sterling Bancorp (NYSE:STL) traded down 0.23% during trading on Friday, reaching $21.75. 1,027,720 shares of the company’s stock were exchanged. Sterling Bancorp has a 12-month low of $14.55 and a 12-month high of $25.85. The company has a market capitalization of $2.95 billion, a P/E ratio of 18.48 and a beta of 1.05. The stock has a 50-day moving average price of $23.16 and a 200 day moving average price of $23.26.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $121.63 million during the quarter, compared to analysts’ expectations of $127.81 million. Sterling Bancorp had a return on equity of 8.05% and a net margin of 26.28%. Equities analysts expect that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Monday, May 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 4th. Sterling Bancorp’s payout ratio is presently 26.17%.
Several institutional investors have recently made changes to their positions in STL. Ronna Sue Cohen boosted its position in shares of Sterling Bancorp by 0.3% in the first quarter. Ronna Sue Cohen now owns 10,212 shares of the financial services provider’s stock valued at $242,000 after buying an additional 29 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Sterling Bancorp by 7,158.1% in the first quarter. Salem Investment Counselors Inc. now owns 9,000 shares of the financial services provider’s stock valued at $746,000 after buying an additional 8,876 shares during the period. 10 15 Associates Inc. raised its stake in shares of Sterling Bancorp by 5.9% in the first quarter. 10 15 Associates Inc. now owns 10,454 shares of the financial services provider’s stock valued at $247,000 after buying an additional 586 shares during the period. Macquarie Group Ltd. raised its stake in shares of Sterling Bancorp by 15.5% in the first quarter. Macquarie Group Ltd. now owns 1,739,535 shares of the financial services provider’s stock valued at $41,227,000 after buying an additional 233,347 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Sterling Bancorp during the first quarter valued at $276,000. Institutional investors and hedge funds own 73.52% of the company’s stock.
Several analysts recently weighed in on STL shares. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Saturday, January 28th. Stephens started coverage on Sterling Bancorp in a report on Wednesday, April 5th. They issued an “overweight” rating for the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price objective on shares of Sterling Bancorp in a report on Wednesday, April 12th. FBR & Co started coverage on Sterling Bancorp in a report on Tuesday, April 11th. They issued a “mkt perform” rating and a $25.00 price objective for the company. Finally, Sandler O’Neill upgraded Sterling Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 9th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $26.36.
About Sterling Bancorp
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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