Sterling Bancorp (STL) to Release Quarterly Earnings on Wednesday

Sterling Bancorp (NYSE:STL) is scheduled to be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). The firm had revenue of $263.26 million for the quarter, compared to analyst estimates of $262.02 million. Sterling Bancorp had a return on equity of 10.37% and a net margin of 32.55%. Sterling Bancorp’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, analysts expect Sterling Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of STL opened at $20.21 on Monday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 9.87 and a beta of 1.38. Sterling Bancorp has a 1-year low of $15.62 and a 1-year high of $22.17. The company’s fifty day simple moving average is $19.82 and its 200 day simple moving average is $20.33. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.97.

A number of equities analysts recently weighed in on STL shares. B. Riley started coverage on shares of Sterling Bancorp in a report on Tuesday, July 16th. They set a “buy” rating and a $26.00 target price on the stock. DA Davidson restated a “buy” rating on shares of Sterling Bancorp in a report on Monday, July 22nd. Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price (up from $24.00) on shares of Sterling Bancorp in a report on Friday, July 12th. Piper Jaffray Companies set a $26.00 target price on shares of Sterling Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Sterling Bancorp currently has a consensus rating of “Buy” and an average target price of $24.75.

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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Earnings History for Sterling Bancorp (NYSE:STL)

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