Sterling Bancorp (NYSE:STL) Receives $22.57 Average Price Target from Analysts

Sterling Bancorp (NYSE:STL) has received an average rating of “Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.57.

A number of equities research analysts have recently commented on the company. Royal Bank of Canada raised their target price on Sterling Bancorp from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 22nd. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, March 31st. Hovde Group upgraded Sterling Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $18.00 to $24.00 in a research report on Friday, January 22nd. Seaport Global Securities initiated coverage on shares of Sterling Bancorp in a research note on Thursday, December 17th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, B. Riley boosted their price target on shares of Sterling Bancorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 7th.

In other news, insider Javier L. Evan sold 3,000 shares of the company’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $23.84, for a total transaction of $71,520.00. Following the completion of the sale, the insider now owns 27,104 shares of the company’s stock, valued at $646,159.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas X. Geisel sold 8,452 shares of the company’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $22.72, for a total transaction of $192,029.44. 0.96% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Azora Capital LP grew its holdings in shares of Sterling Bancorp by 54.9% during the fourth quarter. Azora Capital LP now owns 2,017,407 shares of the financial services provider’s stock worth $36,273,000 after buying an additional 715,194 shares in the last quarter. Creative Planning purchased a new stake in shares of Sterling Bancorp in the fourth quarter valued at about $369,000. Sapience Investments LLC grew its holdings in shares of Sterling Bancorp by 10.1% in the fourth quarter. Sapience Investments LLC now owns 625,345 shares of the financial services provider’s stock valued at $11,244,000 after purchasing an additional 57,200 shares during the period. Quantitative Systematic Strategies LLC grew its holdings in shares of Sterling Bancorp by 133.8% in the fourth quarter. Quantitative Systematic Strategies LLC now owns 56,838 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 32,523 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Sterling Bancorp by 12.6% in the fourth quarter. First Trust Advisors LP now owns 967,695 shares of the financial services provider’s stock valued at $17,399,000 after purchasing an additional 107,995 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE STL traded down $0.52 during midday trading on Monday, reaching $22.63. 308,399 shares of the stock were exchanged, compared to its average volume of 3,951,520. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 18.37 and a beta of 1.68. The firm has a 50-day simple moving average of $23.07 and a two-hundred day simple moving average of $17.92. Sterling Bancorp has a twelve month low of $8.99 and a twelve month high of $26.36.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. Sterling Bancorp had a net margin of 21.32% and a return on equity of 5.83%. The firm had revenue of $256.07 million for the quarter, compared to the consensus estimate of $247.27 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Sterling Bancorp will post 1.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Monday, February 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, January 29th. Sterling Bancorp’s payout ratio is presently 13.53%.

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 interest and non-interest checking, savings, money market, time, and demand deposits, as well as certificates of deposit.

Further Reading: What are the disadvantages of after-hours trading?

Analyst Recommendations for Sterling Bancorp (NYSE:STL)

Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.