Equities research analysts expect Sterling Bancorp (NYSE:STL) to post $260.65 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sterling Bancorp’s earnings, with estimates ranging from $255.10 million to $266.20 million. Sterling Bancorp reported sales of $121.63 million during the same quarter last year, which indicates a positive year over year growth rate of 114.3%. The firm is expected to report its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Sterling Bancorp will report full-year sales of $260.65 million for the current financial year, with estimates ranging from $1.04 billion to $1.12 billion. For the next year, analysts expect that the business will report sales of $1.16 billion per share, with estimates ranging from $1.08 billion to $1.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $265.00 million during the quarter, compared to analyst estimates of $267.08 million. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. Sterling Bancorp’s revenue for the quarter was up 115.3% compared to the same quarter last year.
A number of brokerages have issued reports on STL. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $33.50 price target on shares of Sterling Bancorp in a research note on Tuesday, February 27th. Jefferies Group reiterated a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Thursday, January 25th. Finally, Maxim Group increased their price target on Sterling Bancorp from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Sterling Bancorp currently has a consensus rating of “Hold” and an average target price of $29.19.
Shares of STL stock opened at $24.30 on Wednesday. Sterling Bancorp has a 12 month low of $21.00 and a 12 month high of $26.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $5,630.81, a price-to-earnings ratio of 31.56 and a beta of 1.09.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, February 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.15%. Sterling Bancorp’s payout ratio is presently 36.36%.
In other Sterling Bancorp news, Director James F. Deutsch sold 200,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $25.22, for a total value of $5,044,000.00. Following the completion of the sale, the director now owns 500 shares in the company, valued at approximately $12,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.74% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Sterling Bancorp by 32.0% during the fourth quarter. BlackRock Inc. now owns 23,516,070 shares of the financial services provider’s stock valued at $578,494,000 after purchasing an additional 5,699,675 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sterling Bancorp during the fourth quarter valued at about $176,300,000. Clearbridge Investments LLC grew its position in shares of Sterling Bancorp by 794,685.8% during the fourth quarter. Clearbridge Investments LLC now owns 5,078,681 shares of the financial services provider’s stock valued at $124,936,000 after purchasing an additional 5,078,042 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Sterling Bancorp by 54.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,053,762 shares of the financial services provider’s stock valued at $124,323,000 after purchasing an additional 1,789,102 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Sterling Bancorp by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 3,606,466 shares of the financial services provider’s stock valued at $88,719,000 after purchasing an additional 135,984 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.
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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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