Wall Street brokerages expect Sterling Bancorp (NYSE:STL) to post earnings of $0.50 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Sterling Bancorp’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.49. Sterling Bancorp posted earnings per share of $0.39 in the same quarter last year, which would suggest a positive year-over-year growth rate of 28.2%. The company is expected to report its next earnings results on Tuesday, January 22nd.

On average, analysts expect that Sterling Bancorp will report full-year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $1.98. For the next year, analysts forecast that the business will post earnings of $2.05 per share, with EPS estimates ranging from $1.90 to $2.22. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Sterling Bancorp.

Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Sterling Bancorp had a return on equity of 9.96% and a net margin of 23.31%. The company had revenue of $272.20 million for the quarter, compared to the consensus estimate of $278.79 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 96.3% on a year-over-year basis.

Several equities analysts have recently commented on the company. Maxim Group reaffirmed a “buy” rating and issued a $36.00 target price on shares of Sterling Bancorp in a research report on Thursday, October 25th. Zacks Investment Research raised Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. Hovde Group cut their price target on Sterling Bancorp from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Finally, ValuEngine cut Sterling Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.84.

In related news, Director Richard L. O’toole purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $21.92 per share, for a total transaction of $87,680.00. Following the completion of the purchase, the director now owns 30,713 shares in the company, valued at approximately $673,228.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. O’toole purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was bought at an average price of $17.01 per share, with a total value of $85,050.00. Following the completion of the purchase, the director now owns 35,713 shares of the company’s stock, valued at approximately $607,478.13. The disclosure for this purchase can be found here. Insiders own 2.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STL. Legal & General Group Plc lifted its stake in Sterling Bancorp by 11.3% during the first quarter. Legal & General Group Plc now owns 222,991 shares of the financial services provider’s stock worth $5,029,000 after purchasing an additional 22,614 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Sterling Bancorp by 1.9% during the first quarter. Principal Financial Group Inc. now owns 973,817 shares of the financial services provider’s stock worth $21,959,000 after purchasing an additional 18,153 shares during the last quarter. Suntrust Banks Inc. lifted its stake in Sterling Bancorp by 17.6% during the first quarter. Suntrust Banks Inc. now owns 15,847 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 2,376 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Sterling Bancorp during the second quarter worth $540,000. Finally, Xact Kapitalforvaltning AB lifted its stake in Sterling Bancorp by 26.1% during the second quarter. Xact Kapitalforvaltning AB now owns 32,899 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 6,800 shares during the last quarter. Hedge funds and other institutional investors own 91.91% of the company’s stock.

Sterling Bancorp stock opened at $18.45 on Monday. Sterling Bancorp has a 12 month low of $16.85 and a 12 month high of $25.65. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $4.16 billion, a PE ratio of 13.18 and a beta of 1.12.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 5th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, November 2nd. Sterling Bancorp’s dividend payout ratio (DPR) is currently 20.00%.

Sterling Bancorp Company Profile

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

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