Sterling Bancorp (NYSE:STL) Receives $18.10 Consensus PT from Brokerages

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Shares of Sterling Bancorp (NYSE:STL) have earned an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.10.

STL has been the topic of a number of recent research reports. Maxim Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Sterling Bancorp in a research note on Friday, July 24th. Zacks Investment Research lowered shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 15th. Citigroup raised their price target on shares of Sterling Bancorp from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Finally, DA Davidson reissued a “buy” rating on shares of Sterling Bancorp in a research report on Monday, September 14th.

Shares of Sterling Bancorp stock traded down $0.27 during trading hours on Wednesday, reaching $10.01. The company’s stock had a trading volume of 3,403,908 shares, compared to its average volume of 2,391,625. Sterling Bancorp has a one year low of $7.01 and a one year high of $21.63. The company has a market capitalization of $2.00 billion, a P/E ratio of 7.24 and a beta of 1.65. The stock’s fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $11.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.95 and a current ratio of 0.95.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Sterling Bancorp had a net margin of 22.93% and a return on equity of 6.30%. The business had revenue of $239.39 million during the quarter, compared to the consensus estimate of $242.51 million. As a group, research analysts forecast that Sterling Bancorp will post 1.01 earnings per share for the current year.

In other news, insider Thomas X. Geisel sold 7,927 shares of Sterling Bancorp stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $11.46, for a total value of $90,843.42. Following the completion of the transaction, the insider now owns 27,172 shares in the company, valued at $311,391.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.96% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of Sterling Bancorp by 1.9% in the first quarter. Commonwealth Equity Services LLC now owns 61,530 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 1,142 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Sterling Bancorp by 31.2% in the second quarter. Fifth Third Bancorp now owns 6,833 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 1,623 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Sterling Bancorp by 6.0% in the second quarter. PNC Financial Services Group Inc. now owns 35,854 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 2,033 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Sterling Bancorp in the second quarter worth about $28,000. Finally, New York State Teachers Retirement System increased its stake in shares of Sterling Bancorp by 1.1% in the second quarter. New York State Teachers Retirement System now owns 291,116 shares of the financial services provider’s stock worth $3,412,000 after purchasing an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 82.93% 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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Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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