Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 200,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $25.22, for a total transaction of $5,044,000.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $12,610. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Sterling Bancorp (NYSE STL) opened at $25.40 on Monday. The firm has a market cap of $5,709.49, a PE ratio of 32.99 and a beta of 1.09. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. Sterling Bancorp has a fifty-two week low of $21.00 and a fifty-two week high of $26.50.
Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $265.00 million for the quarter, compared to the consensus estimate of $267.08 million. Sterling Bancorp had a net margin of 12.46% and a return on equity of 8.93%. The company’s revenue was up 115.3% on a year-over-year basis. sell-side analysts expect that Sterling Bancorp will post 1.88 EPS for the current year.
Large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in shares of Sterling Bancorp by 3.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 56,900 shares of the financial services provider’s stock valued at $1,400,000 after purchasing an additional 2,000 shares during the period. Alpine Associates Management Inc. lifted its stake in shares of Sterling Bancorp by 1.8% in the third quarter. Alpine Associates Management Inc. now owns 121,811 shares of the financial services provider’s stock valued at $3,003,000 after purchasing an additional 2,211 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Sterling Bancorp by 2.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 121,913 shares of the financial services provider’s stock valued at $3,000,000 after purchasing an additional 2,849 shares during the period. Kahn Brothers Group Inc. DE lifted its stake in shares of Sterling Bancorp by 0.3% in the third quarter. Kahn Brothers Group Inc. DE now owns 921,840 shares of the financial services provider’s stock valued at $22,719,000 after purchasing an additional 3,061 shares during the period. Finally, Advisor Group Inc. lifted its stake in shares of Sterling Bancorp by 36.3% in the fourth quarter. Advisor Group Inc. now owns 12,159 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 3,238 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.
STL has been the topic of several 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 objective on the stock in a research report on Tuesday, January 2nd. JMP Securities began coverage on shares of Sterling Bancorp in a report on Monday, November 20th. They issued a “market perform” rating and a $25.85 target price on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a report on Thursday, January 25th. Maxim Group lifted their target price on shares of Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $33.50 target price on shares of Sterling Bancorp in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.19.
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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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