Brokers Set Expectations for Sterling Bancorp’s FY2018 Earnings (STL)

Sterling Bancorp (NYSE:STL) – Stock analysts at Jefferies Financial Group increased their FY2018 earnings per share estimates for Sterling Bancorp in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings per share of $1.99 for the year, up from their previous forecast of $1.98. Jefferies Financial Group also issued estimates for Sterling Bancorp’s Q4 2018 earnings at $0.51 EPS, Q1 2019 earnings at $0.49 EPS, Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.51 EPS and FY2020 earnings at $2.05 EPS.

A number of other research firms also recently issued reports on STL. ValuEngine downgraded shares of Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Maxim Group restated a “buy” rating and set a $36.00 target price on shares of Sterling Bancorp in a research report on Thursday, October 25th. Hovde Group decreased their target price on shares of Sterling Bancorp from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th. Finally, Stephens restated a “buy” rating and set a $21.00 target price on shares of Sterling Bancorp in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Sterling Bancorp presently has an average rating of “Buy” and an average price target of $28.14.

NYSE STL opened at $17.38 on Thursday. The firm has a market cap of $3.87 billion, a P/E ratio of 12.41 and a beta of 1.17. Sterling Bancorp has a 1 year low of $15.62 and a 1 year high of $25.65. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.98 and a quick ratio of 0.98.

Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $272.20 million during the quarter, compared to the consensus estimate of $278.79 million. Sterling Bancorp had a net margin of 23.31% and a return on equity of 9.96%. The firm’s quarterly revenue was up 96.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share.

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC purchased a new stake in shares of Sterling Bancorp during the second quarter worth about $23,115,000. Legal & General Group Plc increased its stake in shares of Sterling Bancorp by 7.2% during the second quarter. Legal & General Group Plc now owns 239,153 shares of the financial services provider’s stock worth $5,620,000 after purchasing an additional 16,162 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Sterling Bancorp during the second quarter worth about $127,000. Renaissance Technologies LLC increased its stake in shares of Sterling Bancorp by 25.0% during the second quarter. Renaissance Technologies LLC now owns 347,488 shares of the financial services provider’s stock worth $8,166,000 after purchasing an additional 69,600 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Sterling Bancorp by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 87,918 shares of the financial services provider’s stock worth $2,066,000 after purchasing an additional 2,532 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

In other news, Director Richard L. O’toole acquired 5,000 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was acquired at an average price of $17.01 per share, for a total transaction of $85,050.00. Following the completion of the transaction, the director now owns 35,713 shares in the company, valued at approximately $607,478.13. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.09% of the company’s stock.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

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