Q1 2020 Earnings Forecast for Sterling Bancorp Issued By Piper Sandler (NYSE:STL)

Sterling Bancorp (NYSE:STL) – Research analysts at Piper Sandler decreased their Q1 2020 earnings estimates for Sterling Bancorp in a note issued to investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now forecasts that the financial services provider will post earnings of $0.37 per share for the quarter, down from their prior estimate of $0.51. Piper Sandler also issued estimates for Sterling Bancorp’s Q2 2020 earnings at $0.41 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.49 EPS, Q1 2021 earnings at $0.49 EPS, Q2 2021 earnings at $0.51 EPS, Q3 2021 earnings at $0.53 EPS, Q4 2021 earnings at $0.54 EPS and FY2021 earnings at $2.08 EPS.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $256.05 million. Sterling Bancorp had a return on equity of 9.93% and a net margin of 31.85%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share.

A number of other analysts have also weighed in on STL. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Citigroup lowered their target price on Sterling Bancorp from $23.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday. TheStreet lowered Sterling Bancorp from a “b-” rating to a “c+” rating in a research note on Thursday, February 27th. Maxim Group restated a “buy” rating and issued a $28.00 target price on shares of Sterling Bancorp in a research note on Tuesday, January 28th. Finally, B. Riley lowered their target price on Sterling Bancorp from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Sterling Bancorp currently has a consensus rating of “Buy” and a consensus target price of $22.07.

Shares of NYSE STL opened at $11.61 on Thursday. Sterling Bancorp has a 52-week low of $7.01 and a 52-week high of $22.17. The stock has a market cap of $1.79 billion, a PE ratio of 5.69 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 0.97. The business has a fifty day moving average of $16.00 and a two-hundred day moving average of $19.33.

In related news, CAO Rodney Whitwell sold 15,250 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $14.00, for a total value of $213,500.00. Following the transaction, the chief accounting officer now directly owns 61,895 shares in the company, valued at $866,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas X. Geisel sold 4,285 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $20.22, for a total transaction of $86,642.70. Following the completion of the transaction, the insider now directly owns 31,305 shares in the company, valued at $632,987.10. The disclosure for this sale can be found here. Company insiders own 1.67% of the company’s stock.

Several institutional investors have recently modified their holdings of STL. FMR LLC increased its holdings in Sterling Bancorp by 81,198.3% in the first quarter. FMR LLC now owns 1,713,769 shares of the financial services provider’s stock valued at $31,928,000 after purchasing an additional 1,711,661 shares during the last quarter. Norges Bank bought a new position in Sterling Bancorp during the fourth quarter worth about $18,438,000. Earnest Partners LLC grew its position in shares of Sterling Bancorp by 33.6% during the 4th quarter. Earnest Partners LLC now owns 1,548,886 shares of the financial services provider’s stock worth $32,651,000 after buying an additional 389,528 shares during the period. Walthausen & Co. LLC acquired a new position in shares of Sterling Bancorp during the 4th quarter worth about $7,821,000. Finally, Victory Capital Management Inc. grew its position in shares of Sterling Bancorp by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,819,754 shares of the financial services provider’s stock worth $38,360,000 after buying an additional 334,457 shares during the period. Institutional investors own 83.76% of the company’s stock.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, 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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