Brokerages forecast that Sterling Bancorp (NYSE:STL) will report earnings per share of $0.45 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Sterling Bancorp’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.43. Sterling Bancorp posted earnings per share of $0.31 during the same quarter last year, which suggests a positive year over year growth rate of 45.2%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, April 24th.
According to Zacks, analysts expect that Sterling Bancorp will report full year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.80 to $1.98. For the next fiscal year, analysts forecast that the company will report earnings of $2.15 per share, with EPS estimates ranging from $2.05 to $2.26. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $265.00 million during the quarter, compared to analysts’ expectations of $267.08 million. Sterling Bancorp had a net margin of 12.46% and a return on equity of 8.93%. The business’s quarterly revenue was up 115.3% on a year-over-year basis.
STL has been the topic of a number of research reports. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, January 2nd. Maxim Group lifted their price target on shares of Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Jefferies Group reissued a “buy” rating and issued a $30.00 price objective on shares of Sterling Bancorp in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $33.50 price objective on shares of Sterling Bancorp in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.84.
STL traded up $0.15 during trading on Thursday, reaching $22.80. The company had a trading volume of 1,985,022 shares, compared to its average volume of 1,961,676. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Bancorp has a 12 month low of $21.00 and a 12 month high of $26.50. The firm has a market cap of $4,967.70, a P/E ratio of 16.41 and a beta of 1.12.
In related news, Director James F. Deutsch sold 200,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $25.22, for a total value of $5,044,000.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $12,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.74% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. grew its stake in shares of Sterling Bancorp by 8,213.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 6,734 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 6,653 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Sterling Bancorp by 82.8% in the third quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 3,554 shares in the last quarter. Highlander Capital Management LLC grew its stake in shares of Sterling Bancorp by 700.0% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 7,000 shares in the last quarter. Cigna Investments Inc. New acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at about $201,000. Finally, Connable Office Inc. acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at about $202,000. Institutional investors and hedge funds own 88.74% of the company’s stock.
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About Sterling Bancorp
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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