Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 200,000 shares of Sterling Bancorp stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $23.05, for a total transaction of $4,610,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at $11,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Sterling Bancorp (NYSE:STL) traded up 0.69% during mid-day trading on Friday, reaching $21.95. 245,167 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $23.16 and a 200-day moving average price of $23.26. The stock has a market cap of $2.98 billion, a PE ratio of 18.65 and a beta of 1.05. Sterling Bancorp has a one year low of $14.55 and a one year high of $25.85.
Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. Sterling Bancorp had a return on equity of 8.05% and a net margin of 26.28%. The company had revenue of $121.63 million during the quarter, compared to analysts’ expectations of $127.81 million. On average, analysts predict that Sterling Bancorp will post $0.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Monday, May 8th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 4th. Sterling Bancorp’s dividend payout ratio is presently 26.17%.
Large investors have recently modified their holdings of the company. Tyers Asset Management LLC purchased a new stake in shares of Sterling Bancorp during the fourth quarter worth about $121,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sterling Bancorp by 51.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,735 shares during the last quarter. LS Investment Advisors LLC increased its stake in Sterling Bancorp by 33.5% in the first quarter. LS Investment Advisors LLC now owns 6,653 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,670 shares during the last quarter. Elkfork Partners LLC acquired a new stake in Sterling Bancorp during the fourth quarter worth $167,000. Finally, World Asset Management Inc acquired a new stake in Sterling Bancorp during the first quarter worth $203,000. Institutional investors own 73.52% of the company’s stock.
Several research analysts have commented on STL shares. TheStreet upgraded shares of Sterling Bancorp from a “c” rating to a “b-” rating in a research report on Tuesday, January 24th. Maxim Group upped their price target on shares of Sterling Bancorp from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, March 8th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a report on Saturday, January 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $29.00 price target on shares of Sterling Bancorp in a report on Monday, March 13th. Finally, Sandler O’Neill upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $26.36.
Sterling Bancorp Company Profile
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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