ValuEngine lowered shares of Sterling Bancorp (NYSE:STL) from a sell rating to a strong sell rating in a report issued on Wednesday.

Separately, Zacks Investment Research lowered Sterling Bancorp from a buy rating to a hold rating in a research report on Sunday, July 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Sterling Bancorp presently has a consensus rating of Hold and an average price target of $29.98.

Shares of STL opened at $19.63 on Wednesday. Sterling Bancorp has a 52-week low of $19.58 and a 52-week high of $25.65. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 14.02 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, July 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Sterling Bancorp had a return on equity of 9.67% and a net margin of 20.19%. The company had revenue of $276.81 million for the quarter, compared to analyst estimates of $272.26 million. During the same period in the prior year, the company posted $0.33 EPS. Sterling Bancorp’s quarterly revenue was up 110.8% on a year-over-year basis. Sell-side analysts expect that Sterling Bancorp will post 1.98 earnings per share for the current fiscal year.

In related news, General Counsel James P. Blose sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $22.25, for a total transaction of $44,500.00. Following the sale, the general counsel now directly owns 20,322 shares of the company’s stock, valued at approximately $452,164.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard L. O’toole purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $21.92 per share, for a total transaction of $87,680.00. Following the completion of the transaction, the director now owns 30,713 shares in the company, valued at approximately $673,228.96. The disclosure for this purchase can be found here. Corporate insiders own 2.09% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Sterling Bancorp during the 2nd quarter valued at approximately $127,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Sterling Bancorp during the 1st quarter valued at approximately $209,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sterling Bancorp during the 2nd quarter valued at approximately $222,000. GSA Capital Partners LLP acquired a new stake in shares of Sterling Bancorp during the 1st quarter valued at approximately $225,000. Finally, MAI Capital Management acquired a new stake in shares of Sterling Bancorp during the 2nd quarter valued at approximately $322,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Sterling Bancorp Company Profile

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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