Brokerages Anticipate Sterling Bancorp (STL) to Announce $0.50 Earnings Per Share

Analysts expect Sterling Bancorp (NYSE:STL) to post earnings per share of $0.50 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Sterling Bancorp’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.49. Sterling Bancorp reported earnings per share of $0.39 during the same quarter last year, which would indicate a positive year over year growth rate of 28.2%. The company is expected to announce its next earnings report on Tuesday, January 22nd.

According to Zacks, analysts expect that Sterling Bancorp will report full-year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.95 to $1.98. For the next fiscal year, analysts anticipate that the company will report earnings of $2.05 per share, with EPS estimates ranging from $1.90 to $2.22. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Sterling Bancorp.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Sterling Bancorp had a return on equity of 9.96% and a net margin of 23.31%. The business had revenue of $272.20 million during the quarter, compared to the consensus estimate of $278.79 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue was up 96.3% compared to the same quarter last year.

Several research analysts have commented on the company. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Maxim Group restated a “buy” rating and issued a $36.00 target price on shares of Sterling Bancorp in a research note on Thursday, October 25th. Hovde Group cut their target price on Sterling Bancorp from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Finally, ValuEngine downgraded Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.84.

Shares of NYSE STL opened at $18.55 on Monday. Sterling Bancorp has a 52 week low of $16.85 and a 52 week high of $25.65. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 13.25 and a beta of 1.12.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 5th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.51%. Sterling Bancorp’s dividend payout ratio (DPR) is presently 20.00%.

In other Sterling Bancorp news, Director Richard L. O’toole purchased 4,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $21.92 per share, for a total transaction of $87,680.00. Following the transaction, the director now owns 30,713 shares in the company, valued at approximately $673,228.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard L. O’toole purchased 5,000 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were acquired at an average price of $17.01 per share, with a total value of $85,050.00. Following the transaction, the director now owns 35,713 shares in the company, valued at approximately $607,478.13. The disclosure for this purchase can be found here. Company insiders own 2.09% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC bought a new stake in shares of Sterling Bancorp during the 2nd quarter valued at about $23,115,000. Wells Fargo & Company MN boosted its position in shares of Sterling Bancorp by 8.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,090,337 shares of the financial services provider’s stock valued at $72,622,000 after acquiring an additional 230,192 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Sterling Bancorp by 8.9% during the 3rd quarter. Bank of Montreal Can now owns 1,029,927 shares of the financial services provider’s stock valued at $22,659,000 after acquiring an additional 84,009 shares during the last quarter. Aperio Group LLC boosted its position in shares of Sterling Bancorp by 25.5% during the 2nd quarter. Aperio Group LLC now owns 49,149 shares of the financial services provider’s stock valued at $1,155,000 after acquiring an additional 10,002 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Sterling Bancorp during the 2nd quarter valued at about $222,000. Hedge funds and other institutional investors own 91.91% of the company’s stock.

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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Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

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