Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 123,980 shares of the company’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $25.02, for a total value of $3,101,979.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Sterling Bancorp opened at $23.50 on Friday, Marketbeat Ratings reports. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 15.59 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. Sterling Bancorp has a 12-month low of $23.45 and a 12-month high of $25.65.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $262.57 million for the quarter, compared to the consensus estimate of $259.67 million. Sterling Bancorp had a return on equity of 9.24% and a net margin of 16.84%. Sterling Bancorp’s revenue for the quarter was up 108.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. research analysts predict that Sterling Bancorp will post 1.97 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Highlander Capital Management LLC boosted its position in Sterling Bancorp by 700.0% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 7,000 shares in the last quarter. Connable Office Inc. purchased a new position in Sterling Bancorp during the fourth quarter worth approximately $202,000. Gotham Asset Management LLC purchased a new position in Sterling Bancorp during the fourth quarter worth approximately $208,000. Intrust Bank NA purchased a new position in Sterling Bancorp during the fourth quarter worth approximately $225,000. Finally, GWM Advisors LLC purchased a new position in Sterling Bancorp during the first quarter worth approximately $202,000. Institutional investors own 91.47% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday. Citigroup assumed coverage on Sterling Bancorp in a research note on Monday, June 18th. They issued a “neutral” rating and a $27.00 target price on the stock. Maxim Group restated a “buy” rating and issued a $32.00 target price on shares of Sterling Bancorp in a research note on Wednesday, April 25th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $34.00 target price on shares of Sterling Bancorp in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $29.84.
Sterling Bancorp Company Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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