Sterling Bancorp (NYSE:STL) insider Thomas X. Geisel sold 7,927 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $11.46, for a total transaction of $90,843.42. Following the completion of the sale, the insider now directly owns 27,172 shares in the company, valued at approximately $311,391.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NYSE:STL opened at $11.58 on Friday. The firm has a 50 day simple moving average of $11.34 and a 200-day simple moving average of $13.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $2.25 billion, a PE ratio of 8.15 and a beta of 1.69. Sterling Bancorp has a 1-year low of $7.01 and a 1-year high of $22.12.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The firm had revenue of $239.39 million during the quarter, compared to analyst estimates of $242.51 million. Sterling Bancorp had a net margin of 22.93% and a return on equity of 6.30%. As a group, sell-side analysts expect that Sterling Bancorp will post 1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, July 31st. Sterling Bancorp’s dividend payout ratio (DPR) is 13.53%.

A number of hedge funds have recently modified their holdings of STL. FMR LLC increased its position in Sterling Bancorp by 81,198.3% during the first quarter. FMR LLC now owns 1,713,769 shares of the financial services provider’s stock worth $31,928,000 after purchasing an additional 1,711,661 shares during the last quarter. First Trust Advisors LP increased its position in Sterling Bancorp by 32.0% during the first quarter. First Trust Advisors LP now owns 337,196 shares of the financial services provider’s stock worth $6,282,000 after purchasing an additional 81,732 shares during the last quarter. UBS Group AG increased its position in Sterling Bancorp by 8.9% during the fourth quarter. UBS Group AG now owns 138,980 shares of the financial services provider’s stock worth $2,930,000 after purchasing an additional 11,388 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Sterling Bancorp by 8.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 280,667 shares of the financial services provider’s stock worth $5,916,000 after purchasing an additional 22,236 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Sterling Bancorp by 7.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 76,113 shares of the financial services provider’s stock worth $1,604,000 after purchasing an additional 5,511 shares during the last quarter. 83.50% of the stock is owned by hedge funds and other institutional investors.

STL has been the topic of several recent research reports. DA Davidson initiated coverage on shares of Sterling Bancorp in a report on Tuesday, July 21st. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. Maxim Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Sterling Bancorp in a report on Friday, July 24th. Citigroup upped their price target on shares of Sterling Bancorp from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $16.00 price target on shares of Sterling Bancorp in a report on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $19.42.

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.

See Also: Net Income

Insider Buying and Selling by Quarter for Sterling Bancorp (NYSE:STL)

Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.