Sterling Bancorp (NASDAQ:SBT) Rating Lowered to Sell at ValuEngine

Sterling Bancorp (NASDAQ:SBT) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday, ValuEngine reports.

Other equities research analysts also recently issued reports about the stock. Piper Sandler restated an “underweight” rating and issued a $6.00 price target (down from $7.50) on shares of Sterling Bancorp in a research note on Monday, March 9th. BidaskClub upgraded shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 27th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, TheStreet downgraded shares of Sterling Bancorp from a “c-” rating to a “d+” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average price target of $9.17.

Sterling Bancorp stock traded up $0.31 during trading hours on Thursday, reaching $3.61. 48,059 shares of the stock were exchanged, compared to its average volume of 66,025. The company has a market cap of $165.66 million, a P/E ratio of 3.22 and a beta of 1.52. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.90. Sterling Bancorp has a twelve month low of $2.53 and a twelve month high of $10.55. The stock has a 50 day moving average of $5.59 and a two-hundred day moving average of $8.08.

Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Sterling Bancorp had a net margin of 30.49% and a return on equity of 16.55%. The firm had revenue of $32.35 million for the quarter. On average, analysts expect that Sterling Bancorp will post 0.77 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP raised its holdings in Sterling Bancorp by 35.1% during the 4th quarter. Royce & Associates LP now owns 5,829 shares of the company’s stock worth $47,000 after purchasing an additional 1,513 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Sterling Bancorp in the 4th quarter valued at $54,000. Advisory Services Network LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter valued at $60,000. California Public Employees Retirement System bought a new stake in Sterling Bancorp during the 4th quarter valued at $120,000. Finally, Barclays PLC increased its stake in Sterling Bancorp by 91.9% during the 4th quarter. Barclays PLC now owns 16,855 shares of the company’s stock valued at $137,000 after purchasing an additional 8,074 shares in the last quarter. Hedge funds and other institutional investors own 26.88% of the company’s stock.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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