Analysts forecast that Sterling Bancorp (NYSE:STL) will announce earnings of $0.52 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Sterling Bancorp’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.52. Sterling Bancorp reported earnings per share of $0.35 during the same quarter last year, which would suggest a positive year over year growth rate of 48.6%. The business is scheduled to report its next quarterly earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Sterling Bancorp will report full year earnings of $1.98 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.00. For the next fiscal year, analysts forecast that the business will post earnings of $2.18 per share, with EPS estimates ranging from $2.15 to $2.22. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. Sterling Bancorp had a net margin of 20.19% and a return on equity of 9.67%. The business had revenue of $276.81 million during the quarter, compared to analysts’ expectations of $272.26 million. During the same period in the previous year, the company earned $0.33 earnings per share. Sterling Bancorp’s revenue for the quarter was up 110.8% on a year-over-year basis.
A number of brokerages recently issued reports on STL. ValuEngine lowered shares of Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. Citigroup began coverage on shares of Sterling Bancorp in a research report on Monday, June 18th. They set a “neutral” rating and a $27.00 target price on the stock. Finally, Maxim Group boosted their target price on shares of Sterling Bancorp from $32.00 to $36.00 and gave the stock a “positive” rating in a research report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.84.
Shares of Sterling Bancorp traded down $0.05, reaching $22.10, on Friday, MarketBeat Ratings reports. The stock had a trading volume of 1,216,314 shares, compared to its average volume of 1,487,551. 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. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 15.79 and a beta of 0.99.
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 given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, August 3rd. Sterling Bancorp’s dividend payout ratio (DPR) is currently 20.00%.
In other Sterling Bancorp news, Director Richard L. O’toole purchased 4,000 shares of the stock in a transaction on Thursday, July 26th. The shares were purchased at an average price of $22.93 per share, with a total value of $91,720.00. Following the acquisition, the director now directly owns 26,713 shares of the company’s stock, valued at approximately $612,529.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel James P. Blose sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $22.25, for a total transaction of $44,500.00. Following the completion of the sale, the general counsel now directly owns 20,322 shares in the company, valued at approximately $452,164.50. The disclosure for this sale can be found here. Insiders have sold 245,165 shares of company stock worth $6,131,060 in the last ninety days. 2.09% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its holdings in Sterling Bancorp by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 239,153 shares of the financial services provider’s stock valued at $5,620,000 after buying an additional 16,162 shares during the period. Chicago Equity Partners LLC bought a new stake in Sterling Bancorp in the 2nd quarter valued at $1,739,000. Janus Henderson Group PLC bought a new stake in Sterling Bancorp in the 2nd quarter valued at $23,115,000. Standard Life Aberdeen plc bought a new stake in Sterling Bancorp in the 2nd quarter valued at $3,635,000. Finally, Argent Capital Management LLC increased its holdings in Sterling Bancorp by 2.5% in the 2nd quarter. Argent Capital Management LLC now owns 188,255 shares of the financial services provider’s stock valued at $4,424,000 after buying an additional 4,650 shares during the period. 91.61% of the stock is currently owned by hedge funds and other institutional investors.
Sterling Bancorp Company Profile
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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