Analysts Anticipate Sterling Bancorp (NYSE:STL) to Announce $0.51 Earnings Per Share

Wall Street analysts forecast that Sterling Bancorp (NYSE:STL) will announce earnings of $0.51 per share for the current quarter, according to Zacks. Four analysts have made estimates for Sterling Bancorp’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.48. Sterling Bancorp posted earnings of $0.45 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The firm is expected to announce its next earnings report on Wednesday, October 20th.

On average, analysts expect that Sterling Bancorp will report full-year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.10. For the next financial year, analysts expect that the company will report earnings of $2.09 per share, with EPS estimates ranging from $2.00 to $2.20. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sterling Bancorp.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. Sterling Bancorp had a return on equity of 8.56% and a net margin of 33.30%. The company had revenue of $249.02 million for the quarter, compared to analysts’ expectations of $252.52 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis.

Separately, Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sterling Bancorp has a consensus rating of “Buy” and an average price target of $25.71.

Shares of STL traded up $0.32 during trading hours on Friday, hitting $23.60. 1,658,664 shares of the company were exchanged, compared to its average volume of 2,811,631. The company has a market capitalization of $4.55 billion, a PE ratio of 13.04 and a beta of 1.70. The firm has a fifty day simple moving average of $22.37 and a 200-day simple moving average of $23.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Sterling Bancorp has a one year low of $10.05 and a one year high of $27.22.

The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, July 30th. Sterling Bancorp’s dividend payout ratio (DPR) is presently 23.33%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in Sterling Bancorp during the second quarter valued at approximately $31,000. Dark Forest Capital Management LP acquired a new stake in Sterling Bancorp during the second quarter valued at approximately $32,000. Cullen Frost Bankers Inc. acquired a new stake in Sterling Bancorp during the second quarter valued at approximately $33,000. William Blair Investment Management LLC acquired a new stake in Sterling Bancorp during the second quarter valued at approximately $68,000. Finally, Parisi Gray Wealth Management acquired a new stake in Sterling Bancorp during the second quarter valued at approximately $114,000. 81.87% of the stock is currently owned by institutional investors and hedge funds.

Sterling Bancorp Company Profile

Sterling Bancorp operates as a financial and bank holding company of Sterling National Bank, which engages in the provision of commercial, business, and consumer banking products and services through its subsidiary. The company was founded in 1888 and is headquartered in Pearl River, NY.

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

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