James F. Deutsch Sells 100,000 Shares of Sterling Bancorp (STL) Stock

Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 100,000 shares of Sterling Bancorp stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $24.98, for a total value of $2,498,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at $12,490. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The business had revenue of $134.06 million during the quarter, compared to analysts’ expectations of $135.09 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, November 3rd. Sterling Bancorp’s dividend payout ratio is presently 22.58%.

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STL has been the subject of several research analyst reports. BidaskClub downgraded Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Maxim Group reiterated a “buy” rating and issued a $30.00 price objective on shares of Sterling Bancorp in a report on Wednesday, July 26th. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Saturday, July 29th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Sterling Bancorp in a report on Thursday, September 7th. Finally, ValuEngine downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $27.69.

Hedge funds have recently made changes to their positions in the company. First Bank & Trust increased its holdings in shares of Sterling Bancorp by 402.6% in the second quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 3,970 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Sterling Bancorp by 70.6% in the second quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 2,119 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sterling Bancorp by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 415 shares during the period. M&T Bank Corp acquired a new position in shares of Sterling Bancorp in the second quarter valued at about $205,000. Finally, World Asset Management Inc increased its holdings in shares of Sterling Bancorp by 3.0% in the second quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 261 shares during the period. 91.18% of the stock is currently owned by institutional investors and hedge funds.

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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