Sterling Bancorp (NASDAQ:SBT) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Sterling Bancorp (NASDAQ:SBT) from a sell rating to a hold rating in a report released on Wednesday morning, ValuEngine reports.

A number of other brokerages have also commented on SBT. TheStreet upgraded Sterling Bancorp from a d+ rating to a c rating in a research report on Monday, August 26th. Zacks Investment Research lowered Sterling Bancorp from a buy rating to a hold rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $12.67.

NASDAQ SBT traded up $0.09 during trading on Wednesday, reaching $9.84. 31,024 shares of the company’s stock were exchanged, compared to its average volume of 52,086. Sterling Bancorp has a fifty-two week low of $6.65 and a fifty-two week high of $11.95. The firm has a market capitalization of $492.54 million, a PE ratio of 8.20 and a beta of 1.34. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $9.69 and its 200-day simple moving average is $9.80.

Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). Sterling Bancorp had a return on equity of 18.23% and a net margin of 32.19%. The business had revenue of $32.78 million for the quarter, compared to analyst estimates of $34.20 million. Equities analysts forecast that Sterling Bancorp will post 1.14 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Banc Funds Co. LLC lifted its holdings in shares of Sterling Bancorp by 3.6% during the 2nd quarter. Banc Funds Co. LLC now owns 583,100 shares of the company’s stock valued at $5,814,000 after buying an additional 20,000 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Sterling Bancorp by 938.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,652 shares of the company’s stock valued at $47,000 after buying an additional 4,204 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Sterling Bancorp by 48.5% during the 2nd quarter. Prudential Financial Inc. now owns 56,648 shares of the company’s stock valued at $564,000 after buying an additional 18,492 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sterling Bancorp by 360.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,330 shares of the company’s stock valued at $255,000 after buying an additional 19,826 shares during the last quarter. Finally, Denali Advisors LLC lifted its holdings in shares of Sterling Bancorp by 224.9% during the 2nd quarter. Denali Advisors LLC now owns 44,164 shares of the company’s stock valued at $440,000 after buying an additional 30,569 shares during the last quarter. Institutional investors and hedge funds own 28.14% of the company’s stock.

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.

Further Reading: Diversification

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