James F. Deutsch Sells 100,000 Shares of Sterling Bancorp (STL) Stock

Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 100,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $24.98, for a total value of $2,498,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $12,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a return on equity of 9.08% and a net margin of 28.58%. The business had revenue of $134.06 million for the quarter, compared to analyst estimates of $135.09 million. During the same period in the prior year, the firm posted $0.29 EPS. Sterling Bancorp’s revenue for the quarter was up 9.7% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. Sterling Bancorp’s dividend payout ratio is presently 22.58%.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Sterling Bancorp by 0.7% during the 2nd quarter. BlackRock Inc. now owns 16,098,764 shares of the financial services provider’s stock worth $374,296,000 after purchasing an additional 105,766 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sterling Bancorp by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 11,689,095 shares of the financial services provider’s stock worth $277,031,000 after purchasing an additional 566,776 shares during the last quarter. State Street Corp lifted its position in shares of Sterling Bancorp by 38.2% during the 2nd quarter. State Street Corp now owns 8,198,819 shares of the financial services provider’s stock worth $190,624,000 after purchasing an additional 2,267,814 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Sterling Bancorp by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,312,473 shares of the financial services provider’s stock worth $77,015,000 after purchasing an additional 463,922 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Sterling Bancorp by 2.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,264,660 shares of the financial services provider’s stock worth $80,474,000 after purchasing an additional 69,900 shares during the last quarter. 91.18% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on STL shares. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. ValuEngine lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Sterling Bancorp in a research note on Thursday, September 7th. Finally, Royal Bank Of Canada lowered their price objective on Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.69.

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.

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

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