Sterling Bancorp (NYSE:STL) – Analysts at FIG Partners issued their Q1 2018 earnings per share (EPS) estimates for Sterling Bancorp in a research report issued on Monday, according to Zacks Investment Research. FIG Partners analyst D. Bishop anticipates that the financial services provider will post earnings per share of $0.37 for the quarter. FIG Partners also issued estimates for Sterling Bancorp’s Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.64 EPS.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Sterling Bancorp had a return on equity of 8.05% and a net margin of 26.28%. The firm earned $123.31 million during the quarter, compared to the consensus estimate of $125.25 million. During the same quarter in the previous year, the company posted $0.26 EPS.
Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Sterling Bancorp from a “c” rating to a “b-” rating in a report on Tuesday, January 24th. Maxim Group boosted their target price on shares of Sterling Bancorp from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, March 8th. Zacks Investment Research raised shares of Sterling Bancorp from a “sell” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Saturday, January 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $29.00 target price on shares of Sterling Bancorp in a report on Monday, March 13th. Finally, Sandler O’Neill raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 9th. Nine analysts have rated the stock with a buy rating, Sterling Bancorp currently has an average rating of “Buy” and an average target price of $26.36.
Shares of Sterling Bancorp (NYSE:STL) traded down 0.21% during trading on Thursday, reaching $23.40. The company’s stock had a trading volume of 986,557 shares. The firm’s 50-day moving average is $23.70 and its 200 day moving average is $22.42. Sterling Bancorp has a 52-week low of $14.55 and a 52-week high of $25.85. The company has a market cap of $3.17 billion, a PE ratio of 21.87 and a beta of 1.05.
A number of hedge funds have recently bought and sold shares of the stock. Hermes Investment Management Ltd. acquired a new stake in Sterling Bancorp during the first quarter valued at about $24,308,000. State of Alaska Department of Revenue raised its stake in Sterling Bancorp by 5.6% in the first quarter. State of Alaska Department of Revenue now owns 15,030 shares of the financial services provider’s stock valued at $356,000 after buying an additional 800 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Sterling Bancorp during the first quarter valued at about $222,000. Louisiana State Employees Retirement System raised its stake in Sterling Bancorp by 4.9% in the first quarter. Louisiana State Employees Retirement System now owns 55,200 shares of the financial services provider’s stock valued at $1,308,000 after buying an additional 2,600 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in Sterling Bancorp by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,506,188 shares of the financial services provider’s stock valued at $35,245,000 after buying an additional 105,598 shares during the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.
In other Sterling Bancorp news, Director Craig S. Thompson sold 16,000 shares of the company’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $24.45, for a total transaction of $391,200.00. Following the completion of the sale, the director now directly owns 237,395 shares in the company, valued at $5,804,307.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas G. Kahn sold 62,000 shares of the company’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $23.63, for a total transaction of $1,465,060.00. Following the sale, the director now owns 44,648 shares of the company’s stock, valued at $1,055,032.24. The disclosure for this sale can be found here. Insiders sold 137,794 shares of company stock valued at $3,317,321 over the last quarter. 4.04% of the stock is owned by company insiders.
Sterling Bancorp Company Profile
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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