Sterling Bancorp (STL) Hits New 52-Week High at $17.79
Sterling Bancorp (NYSE:STL)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $17.79 and last traded at $17.53, with a volume of 538,158 shares changing hands. The stock had previously closed at $17.60.
Several equities analysts recently commented on the stock. Jefferies Group reiterated a “buy” rating and set a $18.50 target price on shares of Sterling Bancorp in a research note on Thursday, July 7th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, May 31st. Keefe, Bruyette & Woods upped their target price on shares of Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Finally, Maxim Group assumed coverage on shares of Sterling Bancorp in a research note on Wednesday, June 22nd. They set a “buy” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $18.70.
The stock’s 50-day moving average price is $17.05 and its 200 day moving average price is $16.09. The firm has a market capitalization of $2.31 billion and a P/E ratio of 19.45.
Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The firm earned $119.51 million during the quarter, compared to the consensus estimate of $34.78 million. On average, equities analysts forecast that Sterling Bancorp will post $0.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 8th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, August 4th.
In other news, Director James F. Deutsch sold 100,000 shares of Sterling Bancorp stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $17.58, for a total transaction of $1,758,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at $8,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James F. Deutsch sold 200,000 shares of Sterling Bancorp stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $17.19, for a total value of $3,438,000.00. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at approximately $8,595. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Sterling Bancorp stock. Principal Financial Group Inc. increased its position in shares of Sterling Bancorp (NYSE:STL) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 802,268 shares of the financial services provider’s stock after buying an additional 34,568 shares during the period. Principal Financial Group Inc. owned about 0.62% of Sterling Bancorp worth $13,013,000 as of its most recent SEC filing.
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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