Brokerages Expect Sterling Bancorp (STL) to Announce $0.51 Earnings Per Share

Equities analysts predict that Sterling Bancorp (NYSE:STL) will report earnings of $0.51 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sterling Bancorp’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.52. Sterling Bancorp reported earnings per share of $0.35 during the same quarter last year, which suggests a positive year over year growth rate of 45.7%. The firm is expected to announce its next earnings results after the market closes on Tuesday, October 23rd.

On average, analysts expect that Sterling Bancorp will report full-year earnings of $1.98 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.00. For the next year, analysts anticipate that the firm will report earnings of $2.17 per share, with EPS estimates ranging from $2.12 to $2.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Sterling Bancorp.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The business had revenue of $276.81 million for the quarter, compared to analyst estimates of $272.26 million. Sterling Bancorp had a return on equity of 9.67% and a net margin of 20.19%. Sterling Bancorp’s revenue for the quarter was up 110.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS.

A number of research analysts have commented on STL shares. ValuEngine lowered Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Sterling Bancorp currently has a consensus rating of “Hold” and an average target price of $29.98.

STL traded down $0.49 during mid-day trading on Friday, reaching $19.63. The stock had a trading volume of 3,564,100 shares, compared to its average volume of 1,858,211. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 14.02 and a beta of 0.95. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.01. Sterling Bancorp has a 52 week low of $19.58 and a 52 week high of $25.65.

In other news, Director Richard L. O’toole acquired 4,000 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were purchased at an average cost of $22.93 per share, for a total transaction of $91,720.00. Following the transaction, the director now owns 26,713 shares of the company’s stock, valued at $612,529.09. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel James P. Blose sold 2,000 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $22.25, for a total value of $44,500.00. Following the completion of the transaction, the general counsel now owns 20,322 shares in the company, valued at $452,164.50. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Sterling Bancorp in the 2nd quarter valued at $127,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Sterling Bancorp in the 1st quarter valued at $209,000. Qube Research & Technologies Ltd acquired a new position in shares of Sterling Bancorp in the 2nd quarter valued at $222,000. GSA Capital Partners LLP acquired a new position in shares of Sterling Bancorp in the 1st quarter valued at $225,000. Finally, Point72 Asia Hong Kong Ltd lifted its stake in shares of Sterling Bancorp by 2,001.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 13,304 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 12,671 shares during the period. Hedge funds and other institutional investors own 92.10% of the company’s stock.

About Sterling Bancorp

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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Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

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