Sterling Bancorp (NYSE:STL) Director Richard L. O’toole purchased 4,000 shares of Sterling Bancorp stock in a transaction dated Monday, August 13th. The stock was bought at an average price of $21.92 per share, with a total value of $87,680.00. Following the completion of the transaction, the director now owns 30,713 shares of the company’s stock, valued at approximately $673,228.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE STL opened at $22.20 on Wednesday. The firm has a market capitalization of $4.98 billion, a PE ratio of 15.86 and a beta of 0.99. Sterling Bancorp has a fifty-two week low of $21.75 and a fifty-two week high of $25.65. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.01 and a quick ratio of 1.01.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $276.81 million during the quarter, compared to analysts’ expectations of $272.26 million. Sterling Bancorp had a return on equity of 9.67% and a net margin of 20.19%. The firm’s quarterly revenue was up 110.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. equities research analysts predict that Sterling Bancorp will post 1.98 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in Sterling Bancorp during the second quarter worth about $127,000. GWM Advisors LLC purchased a new position in Sterling Bancorp during the first quarter worth about $202,000. Mount Yale Investment Advisors LLC purchased a new position in Sterling Bancorp during the first quarter worth about $209,000. Canandaigua National Bank & Trust Co. purchased a new position in Sterling Bancorp during the first quarter worth about $211,000. Finally, GSA Capital Partners LLP purchased a new position in Sterling Bancorp during the first quarter worth about $225,000. Institutional investors and hedge funds own 91.72% of the company’s stock.
Several equities analysts have recently weighed in on the company. ValuEngine cut Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. Citigroup assumed coverage on Sterling Bancorp in a research report on Monday, June 18th. They issued a “neutral” rating and a $27.00 price target for the company. Finally, Maxim Group lifted their price target on Sterling Bancorp from $32.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.84.
Sterling Bancorp Company Profile
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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