Sterling Bancorp (NASDAQ:SBT) Announces Earnings Results, Beats Estimates By $0.03 EPS

Sterling Bancorp (NASDAQ:SBT) announced its quarterly earnings results on Sunday. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03, MarketWatch Earnings reports. Sterling Bancorp had a net margin of 7.67% and a return on equity of 3.83%.

Shares of NASDAQ:SBT traded down $0.05 on Tuesday, hitting $4.84. The company had a trading volume of 51,564 shares, compared to its average volume of 63,895. Sterling Bancorp has a 1-year low of $2.61 and a 1-year high of $5.95. The stock has a market cap of $242.02 million, a price-to-earnings ratio of 4.48 and a beta of 0.81. The stock has a 50 day moving average price of $5.41 and a 200 day moving average price of $4.73. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.16.

A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Sterling Bancorp from a “d+” rating to a “c-” rating in a report on Wednesday, April 7th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a report on Friday. Finally, Hovde Group assumed coverage on shares of Sterling Bancorp in a report on Friday, January 29th. They set an “outperform” rating and a $6.00 target price on the stock.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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Earnings History for Sterling Bancorp (NASDAQ:SBT)

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