Sterling Bancorp (NASDAQ:SBT) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Sterling Bancorp (NASDAQ:SBT) released its quarterly earnings results on Sunday. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03, MarketWatch Earnings reports. Sterling Bancorp had a net margin of 7.67% and a return on equity of 3.83%.

NASDAQ SBT traded down $0.11 during trading hours on Tuesday, reaching $4.78. The company’s stock had a trading volume of 4,823 shares, compared to its average volume of 64,029. The firm has a fifty day simple moving average of $5.41 and a 200-day simple moving average of $4.73. The stock has a market cap of $239.02 million, a P/E ratio of 4.48 and a beta of 0.81. Sterling Bancorp has a 52 week low of $2.61 and a 52 week high of $5.95. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.12 and a quick ratio of 1.12.

SBT has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research note on Friday. Hovde Group began coverage on shares of Sterling Bancorp in a report on Friday, January 29th. They issued an “outperform” rating and a $6.00 target price for the company. Finally, TheStreet raised shares of Sterling Bancorp from a “d+” rating to a “c-” rating in a report on Wednesday, April 7th.

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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Earnings History for Sterling Bancorp (NASDAQ:SBT)

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