Shares of Sterling Bancorp (NYSE:STL) have earned a consensus rating of “Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $28.36.
A number of brokerages have weighed in on STL. Maxim Group boosted their target price on shares of Sterling Bancorp from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Jefferies Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a research note on Thursday, January 25th. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, JMP Securities began coverage on shares of Sterling Bancorp in a research note on Monday, November 20th. They issued a “market perform” rating and a $25.85 target price for the company.
Shares of Sterling Bancorp (NYSE STL) traded up $0.50 during mid-day trading on Friday, reaching $23.70. 1,799,483 shares of the company traded hands, compared to its average volume of 2,031,688. Sterling Bancorp has a 12-month low of $21.00 and a 12-month high of $26.50. The company has a market cap of $5,203.72, a P/E ratio of 16.77 and a beta of 1.06. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, February 2nd. Sterling Bancorp’s dividend payout ratio is presently 36.36%.
In related news, Director James F. Deutsch sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $25.31, for a total transaction of $2,531,000.00. Following the completion of the sale, the director now directly owns 500 shares of the company’s stock, valued at $12,655. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Monte N. Redman sold 165,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $23.93, for a total transaction of $3,948,450.00. Following the sale, the director now directly owns 428,077 shares of the company’s stock, valued at $10,243,882.61. The disclosure for this sale can be found here. Insiders own 3.74% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of STL. PNC Financial Services Group Inc. raised its stake in shares of Sterling Bancorp by 21.2% during the second quarter. PNC Financial Services Group Inc. now owns 15,551 shares of the financial services provider’s stock worth $362,000 after buying an additional 2,720 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Sterling Bancorp by 2.7% during the second quarter. UBS Asset Management Americas Inc. now owns 74,720 shares of the financial services provider’s stock worth $1,737,000 after buying an additional 1,945 shares during the last quarter. California Public Employees Retirement System grew its holdings in Sterling Bancorp by 4.1% during the second quarter. California Public Employees Retirement System now owns 170,100 shares of the financial services provider’s stock valued at $3,955,000 after purchasing an additional 6,700 shares during the period. M&T Bank Corp acquired a new position in Sterling Bancorp during the second quarter valued at approximately $205,000. Finally, Parametric Portfolio Associates LLC grew its holdings in Sterling Bancorp by 28.8% during the second quarter. Parametric Portfolio Associates LLC now owns 289,320 shares of the financial services provider’s stock valued at $6,727,000 after purchasing an additional 64,629 shares during the period. 91.70% of the stock is owned by institutional investors and hedge funds.
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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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