Sterling Bancorp (STL) Given Average Recommendation of “Hold” by Brokerages

Sterling Bancorp (NYSE:STL) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.50.

Several equities research analysts have weighed in on STL shares. ValuEngine upgraded Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, January 30th. Maxim Group restated a “buy” rating and set a $36.00 target price on shares of Sterling Bancorp in a research note on Thursday, January 24th. Finally, FIG Partners restated an “outperform” rating on shares of Sterling Bancorp in a research note on Monday, April 29th.

NYSE STL traded up $0.06 on Friday, hitting $21.40. 2,128,181 shares of the company’s stock were exchanged, compared to its average volume of 2,221,821. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.97 and a quick ratio of 0.95. Sterling Bancorp has a 52 week low of $15.62 and a 52 week high of $25.65. The stock has a market capitalization of $4.49 billion, a PE ratio of 10.70 and a beta of 1.30.

Sterling Bancorp (NYSE:STL) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. Sterling Bancorp had a return on equity of 10.57% and a net margin of 33.40%. The firm had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $262.59 million. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that Sterling Bancorp will post 2.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, May 3rd. Sterling Bancorp’s payout ratio is 14.00%.

In other news, insider Brian T. Edwards sold 9,855 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.19, for a total value of $198,972.45. Following the completion of the transaction, the insider now directly owns 98,050 shares in the company, valued at approximately $1,979,629.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas X. Geisel sold 12,335 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $21.05, for a total value of $259,651.75. Following the completion of the transaction, the insider now owns 27,047 shares of the company’s stock, valued at $569,339.35. The disclosure for this sale can be found here. Insiders sold a total of 151,718 shares of company stock valued at $3,211,167 over the last quarter. 1.67% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in STL. Rockefeller Capital Management L.P. lifted its stake in shares of Sterling Bancorp by 325.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,809 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,384 shares during the last quarter. Shine Investment Advisory Services Inc. increased its holdings in Sterling Bancorp by 137.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,150 shares during the period. JOYN Advisors Inc. increased its holdings in Sterling Bancorp by 559.8% in the fourth quarter. JOYN Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 2,161 shares during the period. Bremer Bank National Association acquired a new stake in Sterling Bancorp in the first quarter valued at $46,000. Finally, Bremer Trust National Association acquired a new stake in Sterling Bancorp in the fourth quarter valued at $62,000. Institutional investors own 93.86% 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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