$0.49 Earnings Per Share Expected for Sterling Bancorp (STL) This Quarter
Equities research analysts expect Sterling Bancorp (NYSE:STL) to post $0.49 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Sterling Bancorp’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.45. Sterling Bancorp reported earnings of $0.45 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that Sterling Bancorp will report full year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $2.06 to $2.11. For the next financial year, analysts anticipate that the firm will report earnings of $2.23 per share, with EPS estimates ranging from $2.15 to $2.32. Zacks’ EPS averages are an average based on a survey of research analysts that cover Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Sterling Bancorp had a net margin of 33.95% and a return on equity of 10.54%. The company had revenue of $265.35 million during the quarter, compared to analysts’ expectations of $266.32 million. During the same period in the prior year, the company posted $1.25 earnings per share. Sterling Bancorp’s revenue for the quarter was up 2.9% compared to the same quarter last year.
In related news, Director James J. Landy sold 55,000 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $19.36, for a total transaction of $1,064,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian T. Edwards sold 9,855 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.19, for a total transaction of $198,972.45. Following the transaction, the insider now directly owns 98,050 shares in the company, valued at $1,979,629.50. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Sterling Bancorp by 0.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 89,795 shares of the financial services provider’s stock valued at $1,483,000 after buying an additional 764 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Sterling Bancorp by 4.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 19,978 shares of the financial services provider’s stock valued at $330,000 after buying an additional 820 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Sterling Bancorp by 0.6% in the fourth quarter. Arizona State Retirement System now owns 161,081 shares of the financial services provider’s stock valued at $2,659,000 after buying an additional 981 shares in the last quarter. First Bank & Trust lifted its stake in shares of Sterling Bancorp by 12.4% in the fourth quarter. First Bank & Trust now owns 10,339 shares of the financial services provider’s stock valued at $171,000 after buying an additional 1,141 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. lifted its stake in shares of Sterling Bancorp by 137.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,150 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of STL traded down $0.33 during trading hours on Monday, hitting $19.92. 79,964 shares of the stock were exchanged, compared to its average volume of 2,351,533. Sterling Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $25.65. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. The stock has a market cap of $4.23 billion, a PE ratio of 10.02 and a beta of 1.25.
About Sterling Bancorp
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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