Insider Selling: Sterling Bancorp (NYSE:STL) CEO Sells 25,000 Shares of Stock

Sterling Bancorp (NYSE:STL) CEO Jack L. Kopnisky sold 25,000 shares of the business’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $25.31, for a total transaction of $632,750.00.

NYSE STL traded up $0.70 on Tuesday, reaching $26.26. The company’s stock had a trading volume of 3,113,601 shares, compared to its average volume of 4,012,883. Sterling Bancorp has a twelve month low of $8.99 and a twelve month high of $26.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50 day moving average is $23.97 and its two-hundred day moving average is $19.66. The stock has a market cap of $5.07 billion, a PE ratio of 20.84 and a beta of 1.68.

Sterling Bancorp (NYSE:STL) last released its earnings results on Sunday, April 18th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Sterling Bancorp had a net margin of 21.32% and a return on equity of 5.83%. During the same period in the prior year, the company posted $0.47 EPS. Equities research analysts anticipate that Sterling Bancorp will post 1.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Friday, April 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 29th. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. Sterling Bancorp’s dividend payout ratio is currently 13.53%.

A number of equities analysts have issued reports on STL shares. Hovde Group raised shares of Sterling Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $24.00 in a report on Friday, January 22nd. B. Riley reissued a “neutral” rating and set a $26.00 price target on shares of Sterling Bancorp in a report on Monday, April 26th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, March 31st. Royal Bank of Canada lifted their price target on Sterling Bancorp from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 22nd. Finally, Maxim Group raised their target price on Sterling Bancorp from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Sterling Bancorp presently has a consensus rating of “Buy” and an average target price of $24.25.

Several large investors have recently made changes to their positions in the company. Azora Capital LP grew its holdings in shares of Sterling Bancorp by 54.9% in the 4th quarter. Azora Capital LP now owns 2,017,407 shares of the financial services provider’s stock worth $36,273,000 after acquiring an additional 715,194 shares during the last quarter. Creative Planning purchased a new position in Sterling Bancorp in the 4th quarter worth about $369,000. Sapience Investments LLC raised its holdings in Sterling Bancorp by 10.1% during the 4th quarter. Sapience Investments LLC now owns 625,345 shares of the financial services provider’s stock worth $11,244,000 after buying an additional 57,200 shares during the period. Quantitative Systematic Strategies LLC raised its holdings in Sterling Bancorp by 133.8% during the 4th quarter. Quantitative Systematic Strategies LLC now owns 56,838 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 32,523 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in Sterling Bancorp by 3.5% during the first quarter. Louisiana State Employees Retirement System now owns 50,300 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Sterling Bancorp Company Profile

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 interest and non-interest checking, savings, money market, time, and demand deposits, as well as certificates of deposit.

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