Sterling Bancorp (NYSE:STL) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02, MarketWatch Earnings reports. Sterling Bancorp had a return on equity of 8.62% and a net margin of 33.30%. The company had revenue of $249.02 million during the quarter, compared to the consensus estimate of $252.52 million. During the same period last year, the company earned $0.29 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year.
NYSE STL opened at $21.44 on Friday. The company has a market capitalization of $4.13 billion, a P/E ratio of 11.05 and a beta of 1.70. Sterling Bancorp has a 52 week low of $9.83 and a 52 week high of $27.22. The firm’s 50 day moving average price is $24.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.92.
The company also recently disclosed a dividend, which will be paid on Monday, August 16th. Stockholders of record on Monday, August 2nd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 30th. This represents a dividend yield of 1.29%. Sterling Bancorp’s dividend payout ratio is 23.33%.
STL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 11th. Maxim Group lifted their target price on Sterling Bancorp from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. B. Riley reiterated a “neutral” rating and issued a $26.00 target price on shares of Sterling Bancorp in a report on Monday, April 26th. Finally, Janney Montgomery Scott reiterated a “neutral” rating and issued a $25.00 target price on shares of Sterling Bancorp in a report on Monday, April 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $25.71.
Sterling Bancorp Company Profile
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 interest and non-interest checking, savings, money market, time, and demand deposits, as well as certificates of deposit.
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