Sterling Bancorp (STL) Earning Somewhat Positive Media Coverage, Study Finds

Media headlines about Sterling Bancorp (NYSE:STL) have been trending somewhat positive on Monday, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Sterling Bancorp earned a news sentiment score of 0.06 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 45.9395234318435 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

Here are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

Sterling Bancorp (NYSE STL) traded down $0.30 during mid-day trading on Monday, hitting $24.95. 1,533,921 shares of the company’s stock traded hands, compared to its average volume of 1,634,209. The stock has a market capitalization of $5,673.85, a price-to-earnings ratio of 19.57 and a beta of 1.04. Sterling Bancorp has a 1-year low of $21.00 and a 1-year high of $26.50. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.76.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $134.06 million for the quarter, compared to analysts’ expectations of $135.09 million. Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. sell-side analysts expect that Sterling Bancorp will post 1.39 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Friday, November 3rd. Sterling Bancorp’s payout ratio is 22.58%.

A number of research firms recently weighed in on STL. Maxim Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sterling Bancorp in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank of Canada lowered their price objective on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Sterling Bancorp in a research note on Thursday, September 7th. Finally, ValuEngine lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $27.48.

In other Sterling Bancorp news, Director Thomas G. Kahn sold 30,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $23.69, for a total transaction of $710,700.00. Following the completion of the sale, the director now directly owns 44,774 shares of the company’s stock, valued at $1,060,696.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James F. Deutsch sold 300,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $25.31, for a total transaction of $7,593,000.00. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at $12,655. The disclosure for this sale can be found here. Over the last three months, insiders have sold 754,135 shares of company stock valued at $18,738,583. Insiders own 3.74% 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.

Insider Buying and Selling by Quarter for Sterling Bancorp (NYSE:STL)

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