Sterling Bancorp (NYSE:STL) Expected to Post Earnings of $0.52 Per Share
Equities analysts forecast that Sterling Bancorp (NYSE:STL) will post $0.52 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Sterling Bancorp’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.53. Sterling Bancorp reported earnings of $0.50 per share in the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 24th.
On average, analysts expect that Sterling Bancorp will report full-year earnings of $2.12 per share for the current year, with EPS estimates ranging from $2.06 to $2.18. For the next fiscal year, analysts expect that the business will report earnings of $2.27 per share, with EPS estimates ranging from $2.13 to $2.32. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $263.90 million for the quarter, compared to analysts’ expectations of $262.59 million. Sterling Bancorp had a net margin of 33.40% and a return on equity of 10.57%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS.
Shares of Sterling Bancorp stock traded up $0.07 during trading on Tuesday, reaching $21.15. The company’s stock had a trading volume of 1,094,976 shares, compared to its average volume of 1,271,615. The stock has a 50-day moving average price of $20.73. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 10.58 and a beta of 1.33. Sterling Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $23.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.97.
In other Sterling Bancorp news, CAO Rodney Whitwell sold 54,528 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $20.99, for a total value of $1,144,542.72. Following the transaction, the chief accounting officer now directly owns 91,252 shares of the company’s stock, valued at approximately $1,915,379.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas X. Geisel sold 12,335 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $21.05, for a total transaction of $259,651.75. Following the completion of the transaction, the insider now directly owns 27,047 shares in the company, valued at $569,339.35. The disclosure for this sale can be found here. Insiders sold a total of 143,396 shares of company stock worth $3,043,774 over the last three months. 1.67% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STL. Shine Investment Advisory Services Inc. increased its stake in Sterling Bancorp by 137.2% in the 1st 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 during the period. Bremer Bank National Association acquired a new position in Sterling Bancorp in the 1st quarter valued at $46,000. Dupont Capital Management Corp acquired a new position in Sterling Bancorp in the 1st quarter valued at $173,000. FSI Group LLC acquired a new position in Sterling Bancorp in the 1st quarter valued at $200,000. Finally, Fox Run Management L.L.C. acquired a new position in Sterling Bancorp in the 2nd quarter valued at $200,000. 93.91% of the stock is currently owned by institutional investors.
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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