Analysts expect that Sterling Bancorp (NYSE:STL) will announce $260.65 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sterling Bancorp’s earnings. The highest sales estimate is $266.20 million and the lowest is $255.10 million. Sterling Bancorp reported sales of $121.63 million in the same quarter last year, which indicates a positive year-over-year growth rate of 114.3%. The firm is scheduled to announce its next earnings results on Tuesday, April 24th.
On average, analysts expect that Sterling Bancorp will report full year sales of $260.65 million for the current financial year, with estimates ranging from $1.04 billion to $1.11 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.16 billion per share, with estimates ranging from $1.08 billion to $1.23 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company 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 firm’s quarterly revenue was up 115.3% on a year-over-year basis.
Shares of Sterling Bancorp (STL) traded up $0.35 during midday trading on Friday, reaching $24.25. 955,300 shares of the company’s stock were exchanged, compared to its average volume of 1,973,442. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $5,450.98, a P/E ratio of 31.49 and a beta of 1.06. Sterling Bancorp has a one year low of $21.00 and a one year high of $26.50.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, February 5th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, February 2nd. This represents a $0.28 annualized dividend and a yield of 1.15%. Sterling Bancorp’s payout ratio is 36.36%.
In related news, Director Monte N. Redman sold 165,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $23.93, for a total transaction of $3,948,450.00. Following the transaction, the director now directly owns 428,077 shares in the company, valued at approximately $10,243,882.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James F. Deutsch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $25.31, for a total transaction of $2,531,000.00. Following the transaction, the director now owns 500 shares in the company, valued at $12,655. The disclosure for this sale can be found here. Corporate insiders own 3.74% of the company’s stock.
A number of large investors have recently modified their holdings of STL. TCI Wealth Advisors Inc. grew its holdings in Sterling Bancorp by 8,213.6% during the 4th quarter. TCI Wealth Advisors Inc. now owns 6,734 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 6,653 shares during the last quarter. First Bank & Trust grew its holdings in Sterling Bancorp by 54.5% during the 3rd quarter. First Bank & Trust now owns 7,657 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 2,701 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Sterling Bancorp by 82.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 3,554 shares during the last quarter. Highlander Capital Management LLC grew its holdings in Sterling Bancorp by 700.0% during the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Cigna Investments Inc. New bought a new position in Sterling Bancorp during the 4th quarter valued at about $201,000. Institutional investors own 75.71% of the company’s stock.
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About Sterling Bancorp
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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