Zacks: Sterling Bancorp (SBT) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Sterling Bancorp (NASDAQ:SBT) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus price objective of $14.00 for the company, according to Zacks. Zacks has also assigned Sterling Bancorp an industry rank of 103 out of 255 based on the ratings given to related companies.

In other Sterling Bancorp news, insider Michael A. Montemayor purchased 2,000 shares of the stock in a transaction on Thursday, March 22nd. The shares were purchased at an average cost of $13.20 per share, for a total transaction of $26,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.



Institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund bought a new position in shares of Sterling Bancorp in the 1st quarter valued at about $127,000. American International Group Inc. bought a new position in shares of Sterling Bancorp in the 1st quarter valued at about $151,000. Rhumbline Advisers bought a new position in shares of Sterling Bancorp in the 1st quarter valued at about $184,000. The Manufacturers Life Insurance Company bought a new position in shares of Sterling Bancorp in the 1st quarter valued at about $208,000. Finally, California State Teachers Retirement System bought a new position in shares of Sterling Bancorp in the 1st quarter valued at about $359,000. 31.39% of the stock is owned by institutional investors.

SBT stock traded up $0.03 during midday trading on Friday, hitting $13.49. The company’s stock had a trading volume of 127,300 shares, compared to its average volume of 132,404. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 1.41. Sterling Bancorp has a twelve month low of $12.00 and a twelve month high of $14.98.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings results on Monday, April 30th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $34.23 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Friday, May 25th were paid a $0.01 dividend. The ex-dividend date was Thursday, May 24th. This represents a $0.04 annualized dividend and a yield of 0.30%.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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