Equities Analysts Offer Predictions for Sterling Bancorp’s FY2018 Earnings (STL)
Sterling Bancorp (NYSE:STL) – Investment analysts at Jefferies Group issued their FY2018 EPS estimates for Sterling Bancorp in a research note issued to investors on Friday. Jefferies Group analyst C. Haire forecasts that the brokerage will earn $1.45 per share for the year. Jefferies Group has a “Buy” rating and a $18.50 price target on the stock.
A number of other research analysts also recently issued reports on STL. Maxim Group initiated coverage on Sterling Bancorp in a research note on Wednesday, June 22nd. They set a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Keefe, Bruyette & Woods upped their price target on Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. FIG Partners restated an “outperform” rating on shares of Sterling Bancorp in a research note on Wednesday, August 31st. Finally, Hovde Group initiated coverage on Sterling Bancorp in a research note on Monday. They issued an “outperform” rating and a $20.00 price target for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.10.
Sterling Bancorp (NYSE:STL) traded down 1.13% on Monday, hitting $17.55. 383,959 shares of the company’s stock traded hands. Sterling Bancorp has a 12 month low of $13.44 and a 12 month high of $17.93. The stock has a market cap of $2.29 billion, a P/E ratio of 19.33 and a beta of 1.19. The stock has a 50 day moving average price of $17.40 and a 200-day moving average price of $16.55.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by $0.01. The business had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $34.78 million. Sterling Bancorp had a return on equity of 7.89% and a net margin of 23.68%.
Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Sterling Bancorp by 68.6% in the first quarter. Wellington Management Group LLP now owns 5,580,851 shares of the financial services provider’s stock valued at $88,903,000 after buying an additional 2,269,760 shares during the last quarter. Systematic Financial Management LP raised its stake in Sterling Bancorp by 58.5% in the second quarter. Systematic Financial Management LP now owns 4,766,082 shares of the financial services provider’s stock valued at $74,827,000 after buying an additional 1,759,939 shares during the last quarter. Bank of Montreal Can bought a new stake in Sterling Bancorp during the second quarter valued at $12,643,000. Emerald Acquisition Ltd. bought a new stake in Sterling Bancorp during the second quarter valued at $11,282,000. Finally, Hillcrest Asset Management LLC bought a new stake in Sterling Bancorp during the first quarter valued at $8,491,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Robert Abrams sold 1,835 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $17.00, for a total transaction of $31,195.00. Following the sale, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $907,732. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig S. Thompson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $16.98, for a total value of $33,960.00. Following the sale, the director now directly owns 259,100 shares in the company, valued at $4,399,518. The disclosure for this sale can be found here. Insiders own 4.04% of the company’s stock.
About Sterling Bancorp
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.
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