Brokerages forecast that Sterling Bancorp (NYSE:STL) will post earnings per share of $0.51 for the current quarter, according to Zacks. Three analysts have issued estimates for Sterling Bancorp’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.50. Sterling Bancorp posted earnings per share of $0.39 during the same quarter last year, which indicates a positive year over year growth rate of 30.8%. The company is expected to report its next earnings report after the market closes on Wednesday, January 23rd.
According to Zacks, analysts expect that Sterling Bancorp will report full year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.95 to $1.99. For the next fiscal year, analysts expect that the firm will post earnings of $2.03 per share, with EPS estimates ranging from $2.00 to $2.06. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Sterling Bancorp had a return on equity of 9.96% and a net margin of 23.31%. The business had revenue of $272.20 million for the quarter, compared to the consensus estimate of $278.79 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 96.3% on a year-over-year basis.
A number of analysts recently issued reports on STL shares. ValuEngine cut Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Hovde Group decreased their target price on Sterling Bancorp from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Maxim Group reissued a “buy” rating and issued a $36.00 target price on shares of Sterling Bancorp in a research report on Thursday, October 25th. Finally, Stephens reissued a “buy” rating and issued a $21.00 target price on shares of Sterling Bancorp in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Sterling Bancorp has an average rating of “Buy” and a consensus price target of $28.14.
Shares of STL traded up $0.47 during mid-day trading on Monday, reaching $18.66. The company’s stock had a trading volume of 2,314,451 shares, compared to its average volume of 2,774,132. Sterling Bancorp has a 12-month low of $15.62 and a 12-month high of $25.65. The company has a market cap of $4.19 billion, a P/E ratio of 13.33 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.98 and a current ratio of 0.98.
In related news, Director Richard L. O’toole acquired 5,000 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was bought at an average cost of $17.01 per share, with a total value of $85,050.00. Following the transaction, the director now owns 35,713 shares of the company’s stock, valued at $607,478.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Sterling Bancorp by 1.2% during the 3rd quarter. BlackRock Inc. now owns 19,688,336 shares of the financial services provider’s stock worth $433,144,000 after acquiring an additional 224,675 shares during the period. Nordea Investment Management AB raised its stake in shares of Sterling Bancorp by 58.8% during the 3rd quarter. Nordea Investment Management AB now owns 200,957 shares of the financial services provider’s stock worth $4,421,000 after buying an additional 74,380 shares in the last quarter. HRT Financial LLC purchased a new position in shares of Sterling Bancorp during the 3rd quarter worth approximately $408,000. Bank of Montreal Can raised its stake in shares of Sterling Bancorp by 8.9% during the 3rd quarter. Bank of Montreal Can now owns 1,029,927 shares of the financial services provider’s stock worth $22,659,000 after buying an additional 84,009 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Sterling Bancorp during the 2nd quarter worth approximately $222,000. 94.26% of the stock is owned by institutional investors.
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.
Further Reading: What is the LIBOR?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.