Sterling Bancorp (NYSE:STL) Receives Average Recommendation of “Buy” from Analysts

Sterling Bancorp (NYSE:STL) has been given an average rating of “Buy” by the eleven research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.58.

Several research analysts have recently weighed in on the stock. Maxim Group reissued a “buy” rating and set a $28.00 price target on shares of Sterling Bancorp in a research report on Tuesday, January 28th. B. Riley decreased their target price on shares of Sterling Bancorp from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens upped their target price on shares of Sterling Bancorp from $25.00 to $25.50 and gave the company an “overweight” rating in a research report on Friday, January 24th. ValuEngine cut shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. Finally, TheStreet cut shares of Sterling Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, February 27th.

Shares of Sterling Bancorp stock traded up $0.59 during trading hours on Wednesday, reaching $9.62. 3,737,553 shares of the company’s stock were exchanged, compared to its average volume of 1,958,142. Sterling Bancorp has a 1 year low of $7.01 and a 1 year high of $22.17. The company has a market capitalization of $1.48 billion, a P/E ratio of 4.72 and a beta of 1.46. The business has a fifty day moving average of $16.00 and a two-hundred day moving average of $19.33. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.67.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $256.05 million. Sterling Bancorp had a net margin of 31.85% and a return on equity of 9.93%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, research analysts predict that Sterling Bancorp will post 2.17 EPS for the current year.

In other Sterling Bancorp news, insider Thomas X. Geisel sold 4,285 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $20.22, for a total transaction of $86,642.70. Following the sale, the insider now directly owns 31,305 shares in the company, valued at $632,987.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Whitwell sold 15,250 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $14.00, for a total transaction of $213,500.00. Following the sale, the chief accounting officer now owns 61,895 shares in the company, valued at $866,530. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Sterling Bancorp by 16.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 102,350 shares of the financial services provider’s stock valued at $2,158,000 after acquiring an additional 14,465 shares during the period. Amalgamated Bank boosted its holdings in shares of Sterling Bancorp by 9.1% in the fourth quarter. Amalgamated Bank now owns 46,741 shares of the financial services provider’s stock valued at $985,000 after acquiring an additional 3,903 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Sterling Bancorp in the fourth quarter valued at approximately $421,000. Man Group plc boosted its holdings in shares of Sterling Bancorp by 55.9% in the third quarter. Man Group plc now owns 231,349 shares of the financial services provider’s stock valued at $4,641,000 after acquiring an additional 82,936 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Sterling Bancorp by 65.1% in the third quarter. Barclays PLC now owns 156,565 shares of the financial services provider’s stock valued at $3,141,000 after acquiring an additional 61,719 shares during the period. Institutional investors own 83.76% 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 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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Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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