Zacks: Analysts Anticipate Sterling Bancorp (STL) Will Post Earnings of $0.43 Per Share
Wall Street analysts expect that Sterling Bancorp (NYSE:STL) will report $0.43 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Sterling Bancorp’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.51. Sterling Bancorp posted earnings per share of $0.30 in the same quarter last year, which indicates a positive year over year growth rate of 43.3%. The company is expected to issue its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that Sterling Bancorp will report full-year earnings of $1.39 per share for the current year, with EPS estimates ranging from $1.31 to $1.51. For the next fiscal year, analysts anticipate that the company will post earnings of $1.72 per share, with EPS estimates ranging from $1.65 to $1.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $134.06 million during the quarter, compared to analysts’ expectations of $135.09 million. Sterling Bancorp had a return on equity of 9.08% and a net margin of 28.58%. Sterling Bancorp’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS.
A number of equities analysts recently commented on STL shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 target price on shares of Sterling Bancorp in a research report on Thursday, October 12th. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. ValuEngine cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Royal Bank Of Canada decreased their target price on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.69.
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In other news, Director Thomas G. Kahn sold 30,000 shares of Sterling Bancorp stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $23.69, for a total transaction of $710,700.00. Following the sale, the director now owns 44,774 shares of the company’s stock, valued at approximately $1,060,696.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack L. Kopnisky sold 54,100 shares of Sterling Bancorp stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $24.71, for a total transaction of $1,336,811.00. Following the sale, the chief executive officer now directly owns 231,765 shares in the company, valued at approximately $5,726,913.15. The disclosure for this sale can be found here. In the last three months, insiders sold 489,135 shares of company stock worth $12,259,133. Insiders own 3.74% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in STL. First Bank & Trust boosted its stake in shares of Sterling Bancorp by 402.6% during the 2nd quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 3,970 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Sterling Bancorp by 70.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 2,119 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sterling Bancorp by 8.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 415 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Sterling Bancorp by 82.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 3,554 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Sterling Bancorp during the 2nd quarter valued at about $205,000. 91.70% of the stock is currently owned by hedge funds and other institutional investors.
Sterling Bancorp (STL) opened at $23.90 on Monday. The company has a market cap of $5,370.50, a price-to-earnings ratio of 18.53 and a beta of 1.05. Sterling Bancorp has a 52-week low of $21.00 and a 52-week high of $25.85. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.99 and a quick ratio of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, November 3rd. Sterling Bancorp’s dividend payout ratio (DPR) is presently 22.58%.
Sterling Bancorp Company Profile
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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