Equities research analysts forecast that Sterling Bancorp (NYSE:STL) will announce sales of $134.00 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sterling Bancorp’s earnings. The lowest sales estimate is $133.50 million and the highest is $134.50 million. Sterling Bancorp posted sales of $120.82 million during the same quarter last year, which suggests a positive year over year growth rate of 10.9%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that Sterling Bancorp will report full-year sales of $134.00 million for the current financial year, with estimates ranging from $541.60 million to $542.30 million. For the next financial year, analysts expect that the business will post sales of $1.15 billion per share, with estimates ranging from $1.14 billion to $1.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Sterling Bancorp had a net margin of 28.23% and a return on equity of 8.36%. The firm had revenue of $121.63 million during the quarter, compared to analysts’ expectations of $127.81 million.
A number of equities analysts recently weighed in on STL shares. ValuEngine upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Sterling Bancorp in a research report on Friday, May 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price objective on shares of Sterling Bancorp in a research report on Wednesday, April 12th. Royal Bank of Canada reiterated a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th. Finally, Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Tuesday, June 20th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $27.21.
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In other Sterling Bancorp news, Director Thomas G. Kahn sold 2,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $23.53, for a total value of $47,060.00. Following the completion of the sale, the director now owns 44,648 shares of the company’s stock, valued at $1,050,567.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel James P. Blose sold 3,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $24.00, for a total value of $72,000.00. Following the completion of the sale, the general counsel now directly owns 18,433 shares of the company’s stock, valued at approximately $442,392. The disclosure for this sale can be found here. In the last three months, insiders sold 211,500 shares of company stock valued at $4,875,795. 3.74% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STL. Nuveen Asset Management LLC increased its position in Sterling Bancorp by 46.8% in the first quarter. Nuveen Asset Management LLC now owns 1,277,016 shares of the financial services provider’s stock valued at $30,265,000 after buying an additional 407,233 shares during the period. Ronna Sue Cohen increased its position in Sterling Bancorp by 0.3% in the first quarter. Ronna Sue Cohen now owns 10,212 shares of the financial services provider’s stock valued at $242,000 after buying an additional 29 shares during the period. Salem Investment Counselors Inc. increased its position in Sterling Bancorp by 7,158.1% in the first quarter. Salem Investment Counselors Inc. now owns 9,000 shares of the financial services provider’s stock valued at $746,000 after buying an additional 8,876 shares during the period. 10 15 Associates Inc. increased its position in Sterling Bancorp by 5.9% in the first quarter. 10 15 Associates Inc. now owns 10,454 shares of the financial services provider’s stock valued at $247,000 after buying an additional 586 shares during the period. Finally, Macquarie Group Ltd. increased its position in Sterling Bancorp by 15.5% in the first quarter. Macquarie Group Ltd. now owns 1,739,535 shares of the financial services provider’s stock valued at $41,227,000 after buying an additional 233,347 shares during the period. 86.60% of the stock is owned by institutional investors and hedge funds.
Sterling Bancorp (NYSE:STL) traded down 1.27% during trading on Friday, hitting $23.35. 955,754 shares of the company traded hands. The company’s 50-day moving average is $22.60 and its 200 day moving average is $23.49. Sterling Bancorp has a 52-week low of $15.76 and a 52-week high of $25.85. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 19.84 and a beta of 1.08.
Sterling Bancorp Company Profile
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
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