Analysts expect Sterling Bancorp (NYSE:STL) to post earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sterling Bancorp’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.37. Sterling Bancorp reported earnings per share of $0.27 during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The firm is scheduled to report its next earnings report on Tuesday, October 24th.
On average, analysts expect that Sterling Bancorp will report full year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.38 to $1.42. For the next financial year, analysts expect that the firm will post earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.72. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. The business had revenue of $126.88 million for the quarter, compared to the consensus estimate of $133.85 million.
Several analysts have weighed in on STL shares. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. BidaskClub downgraded shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. FBR & Co set a $25.00 target price on shares of Sterling Bancorp and gave the stock a “hold” rating in a research report on Thursday, May 4th. ValuEngine raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.07.
Sterling Bancorp (STL) traded down 0.325% on Friday, reaching $23.025. 575,550 shares of the company’s stock traded hands. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 19.204 and a beta of 1.08. Sterling Bancorp has a 12-month low of $16.62 and a 12-month high of $25.85. The stock has a 50 day moving average price of $23.16 and a 200 day moving average price of $23.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, August 3rd. Sterling Bancorp’s dividend payout ratio (DPR) is currently 23.33%.
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In other Sterling Bancorp news, Director Richard L. O’toole acquired 4,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were acquired at an average cost of $22.60 per share, with a total value of $90,400.00. Following the acquisition, the director now directly owns 21,291 shares of the company’s stock, valued at $481,176.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Craig S. Thompson sold 3,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $22.75, for a total transaction of $79,625.00. Following the completion of the sale, the director now directly owns 225,395 shares in the company, valued at $5,127,736.25. The disclosure for this sale can be found here. Insiders sold a total of 10,500 shares of company stock worth $241,925 over the last ninety days. Insiders own 3.74% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Sterling Bancorp by 50,894.8% in the first quarter. BlackRock Inc. now owns 15,992,998 shares of the financial services provider’s stock worth $379,033,000 after buying an additional 15,961,636 shares during the period. State Street Corp increased its stake in shares of Sterling Bancorp by 26.9% in the first quarter. State Street Corp now owns 5,931,005 shares of the financial services provider’s stock worth $140,564,000 after buying an additional 1,257,312 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Sterling Bancorp by 229.3% in the first quarter. OppenheimerFunds Inc. now owns 1,697,911 shares of the financial services provider’s stock worth $40,240,000 after buying an additional 1,182,263 shares during the period. Hermes Investment Management Ltd. purchased a new stake in shares of Sterling Bancorp during the first quarter worth about $24,308,000. Finally, Norges Bank purchased a new stake in shares of Sterling Bancorp during the fourth quarter worth about $21,697,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
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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