Sterling Bancorp (STL) Reaches New 12-Month High at $17.90
Shares of Sterling Bancorp (NYSE:STL) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.90 and last traded at $17.60, with a volume of 295,110 shares trading hands. The stock had previously closed at $17.85.
Several analysts have issued reports on STL shares. Keefe, Bruyette & Woods upped their price target on shares of Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Maxim Group started coverage on shares of Sterling Bancorp in a research report on Wednesday, June 22nd. They set a “buy” rating and a $19.00 price target for the company. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Saturday, July 30th. Jefferies Group restated a “buy” rating and set a $18.50 price target on shares of Sterling Bancorp in a research report on Thursday, July 7th. Finally, FIG Partners restated an “outperform” rating on shares of Sterling Bancorp in a research report on Wednesday, August 31st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.70.
The stock has a market capitalization of $2.29 billion and a P/E ratio of 19.33. The firm has a 50 day moving average price of $17.09 and a 200-day moving average price of $16.15.
Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $119.51 million for the quarter, compared to the consensus estimate of $34.78 million. Equities research analysts predict that Sterling Bancorp will post $0.69 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Monday, August 8th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, August 4th.
In other Sterling Bancorp news, Director James F. Deutsch sold 100,000 shares of Sterling Bancorp stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $17.58, for a total value of $1,758,000.00. Following the sale, the director now directly owns 500 shares in the company, valued at approximately $8,790. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James F. Deutsch sold 200,000 shares of Sterling Bancorp stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $17.19, for a total transaction of $3,438,000.00. Following the completion of the sale, the director now owns 500 shares in the company, valued at $8,595. The disclosure for this sale can be found here.
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.