Mona Aboelnaga Purchases 500 Shares of Sterling Bancorp (NYSE:STL) Stock

Sterling Bancorp (NYSE:STL) Director Mona Aboelnaga acquired 500 shares of Sterling Bancorp stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $20.49 per share, with a total value of $10,245.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $10,245. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

STL opened at $21.13 on Friday. Sterling Bancorp has a 1-year low of $15.62 and a 1-year high of $22.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.57 and a beta of 1.38. The business has a 50 day moving average of $20.49 and a 200-day moving average of $20.28.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.02). The firm had revenue of $259.76 million during the quarter, compared to the consensus estimate of $262.65 million. Sterling Bancorp had a return on equity of 10.12% and a net margin of 32.25%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. Equities analysts predict that Sterling Bancorp will post 2.07 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were given a $0.07 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.28 annualized dividend and a yield of 1.33%. Sterling Bancorp’s dividend payout ratio (DPR) is currently 14.00%.

STL has been the subject of several research reports. Stephens reissued a “buy” rating and issued a $24.50 price objective on shares of Sterling Bancorp in a research report on Wednesday, November 6th. Maxim Group set a $28.00 price objective on Sterling Bancorp and gave the company a “buy” rating in a research report on Friday, October 25th. ValuEngine raised Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, December 7th. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $25.36.

Hedge funds have recently modified their holdings of the stock. Smith Asset Management Group LP bought a new position in Sterling Bancorp in the second quarter worth $29,000. Quest Capital Management Inc. ADV bought a new position in Sterling Bancorp in the third quarter worth $41,000. Private Capital Group LLC bought a new position in Sterling Bancorp in the second quarter worth $50,000. Rehmann Capital Advisory Group lifted its position in Sterling Bancorp by 98.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,407 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,193 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in Sterling Bancorp in the second quarter worth $62,000. 84.23% of the stock is owned by hedge funds and other institutional investors.

About Sterling Bancorp

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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