Research Analysts Set Expectations for Sterling Bancorp’s Q4 2017 Earnings (STL)
Sterling Bancorp (NYSE:STL) – Equities research analysts at Jefferies Group raised their Q4 2017 earnings per share estimates for Sterling Bancorp in a report released on Tuesday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.39 per share for the quarter, up from their prior estimate of $0.38. Jefferies Group also issued estimates for Sterling Bancorp’s Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.44 EPS and Q4 2018 earnings at $0.46 EPS.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $126.88 million for the quarter, compared to analysts’ expectations of $133.85 million. Sterling Bancorp had a return on equity of 8.62% and a net margin of 28.40%.
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STL has been the topic of several other reports. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Saturday, July 29th. BidaskClub lowered shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Maxim Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a report on Wednesday, July 26th. Royal Bank Of Canada cut their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, October 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Sterling Bancorp in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Sterling Bancorp has a consensus rating of “Buy” and a consensus price target of $27.69.
Sterling Bancorp (NYSE STL) traded down 1.41% during trading on Wednesday, reaching $24.50. The company had a trading volume of 223,049 shares. Sterling Bancorp has a 12-month low of $16.75 and a 12-month high of $25.85. The stock has a market capitalization of $3.32 billion, a P/E ratio of 20.43 and a beta of 1.07. The stock has a 50 day moving average of $23.21 and a 200-day moving average of $22.98.
Several large investors have recently bought and sold shares of STL. BlackRock Inc. lifted its stake in shares of Sterling Bancorp by 50,894.8% during the first quarter. BlackRock Inc. now owns 15,992,998 shares of the financial services provider’s stock worth $379,033,000 after buying an additional 15,961,636 shares during the period. State Street Corp lifted its stake in shares of Sterling Bancorp by 38.2% during the second quarter. State Street Corp now owns 8,198,819 shares of the financial services provider’s stock worth $190,624,000 after buying an additional 2,267,814 shares during the period. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Sterling Bancorp during the second quarter worth $17,510,000. Citadel Advisors LLC lifted its stake in shares of Sterling Bancorp by 547.1% during the first quarter. Citadel Advisors LLC now owns 772,163 shares of the financial services provider’s stock worth $18,301,000 after buying an additional 652,832 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Sterling Bancorp by 5.1% during the first quarter. Vanguard Group Inc. now owns 11,689,095 shares of the financial services provider’s stock worth $277,031,000 after buying an additional 566,776 shares during the period. Institutional investors and hedge funds own 90.91% of the company’s stock.
In related news, Director Burt Steinberg acquired 10,000 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $21.88 per share, for a total transaction of $218,800.00. Following the completion of the purchase, the director now owns 135,146 shares of the company’s stock, valued at approximately $2,956,994.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard L. O’toole acquired 4,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were bought at an average price of $22.60 per share, with a total value of $90,400.00. Following the completion of the purchase, the director now directly owns 21,291 shares of the company’s stock, valued at approximately $481,176.60. The disclosure for this purchase can be found here. Insiders own 3.74% of the company’s stock.
About Sterling Bancorp
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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