Research analysts at JMP Securities initiated coverage on shares of Sterling Bancorp (NYSE:STL) in a report released on Monday, November 20th, MarketBeat reports. The firm set a “market perform” rating and a $25.85 price target on the financial services provider’s stock. JMP Securities’ price objective indicates a potential upside of 1.37% from the stock’s current price.
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, September 8th. Maxim Group reiterated a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, July 26th. Royal Bank Of Canada decreased their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $27.48.
Sterling Bancorp (NYSE STL) traded down $0.15 during midday trading on Monday, hitting $25.50. 1,931,582 shares of the stock traded hands, compared to its average volume of 1,632,372. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.76. Sterling Bancorp has a twelve month low of $21.00 and a twelve month high of $26.50. The stock has a market capitalization of $5,853.62, a price-to-earnings ratio of 20.19 and a beta of 1.04.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The business had revenue of $134.06 million during the quarter, compared to analysts’ expectations of $135.09 million. During the same period in the previous year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. analysts forecast that Sterling Bancorp will post 1.39 EPS for the current fiscal year.
In other Sterling Bancorp news, Director James F. Deutsch sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $25.31, for a total transaction of $7,593,000.00. Following the sale, the director now owns 500 shares of the company’s stock, valued at $12,655. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James F. Deutsch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $25.31, for a total transaction of $2,531,000.00. Following the sale, the director now directly owns 500 shares in the company, valued at approximately $12,655. The disclosure for this sale can be found here. Insiders sold 754,135 shares of company stock valued at $18,738,583 in the last quarter. 3.74% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in Sterling Bancorp during the third quarter worth approximately $1,812,000. GSA Capital Partners LLP raised its holdings in Sterling Bancorp by 75.8% during the third quarter. GSA Capital Partners LLP now owns 61,284 shares of the financial services provider’s stock worth $1,511,000 after purchasing an additional 26,422 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Sterling Bancorp during the third quarter worth approximately $325,000. First Republic Investment Management Inc. raised its holdings in Sterling Bancorp by 38.7% during the third quarter. First Republic Investment Management Inc. now owns 266,227 shares of the financial services provider’s stock worth $6,563,000 after purchasing an additional 74,340 shares in the last quarter. Finally, Waterstone Capital Management L.P. acquired a new stake in Sterling Bancorp during the third quarter worth approximately $343,000. 91.70% of the stock is currently owned by institutional investors.
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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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