Research analysts at DA Davidson initiated coverage on shares of Sterling Bancorp (NYSE:STL) in a report released on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $25.00 price target on the financial services provider’s stock. DA Davidson’s price target points to a potential upside of 15.90% from the stock’s previous close.
Several other equities analysts have also weighed in on the company. FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a research note on Monday, April 29th. Zacks Investment Research lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $25.33.
Sterling Bancorp stock opened at $21.57 on Thursday. The firm has a 50-day moving average price of $20.60. The company has a market capitalization of $4.42 billion, a PE ratio of 10.79 and a beta of 1.33. Sterling Bancorp has a 12-month low of $15.62 and a 12-month high of $23.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.97.
Sterling Bancorp (NYSE:STL) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. Sterling Bancorp had a return on equity of 10.57% and a net margin of 33.40%. The firm had revenue of $263.90 million for the quarter, compared to analyst estimates of $262.59 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Research analysts predict that Sterling Bancorp will post 2.12 earnings per share for the current fiscal year.
In other news, insider Javier L. Evan sold 1,533 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.60, for a total transaction of $31,579.80. Following the sale, the insider now owns 24,168 shares of the company’s stock, valued at $497,860.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas X. Geisel sold 12,335 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $21.05, for a total value of $259,651.75. Following the sale, the insider now directly owns 27,047 shares in the company, valued at approximately $569,339.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,396 shares of company stock worth $3,043,774. 1.67% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. raised its position in shares of Sterling Bancorp by 137.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,150 shares during the period. Bremer Bank National Association acquired a new stake in shares of Sterling Bancorp during the first quarter worth about $46,000. Dupont Capital Management Corp acquired a new stake in shares of Sterling Bancorp during the first quarter worth about $173,000. FSI Group LLC acquired a new stake in shares of Sterling Bancorp during the first quarter worth about $200,000. Finally, Palouse Capital Management Inc. raised its position in shares of Sterling Bancorp by 27.2% during the first quarter. Palouse Capital Management Inc. now owns 13,836 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 2,956 shares during the period. 93.92% of the stock is currently owned by institutional investors.
Sterling Bancorp Company Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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