Sterling Bancorp (NYSE:STL) Director Craig S. Thompson sold 1,000 shares of the stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $17.87, for a total value of $17,870.00. Following the completion of the sale, the director now owns 254,600 shares of the company’s stock, valued at approximately $4,549,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Sterling Bancorp (NYSE:STL) opened at 17.70 on Monday. The company’s 50 day moving average price is $17.37 and its 200 day moving average price is $16.69. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.52 and a beta of 1.19. Sterling Bancorp has a one year low of $13.44 and a one year high of $18.00.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Sterling Bancorp had a net margin of 25.55% and a return on equity of 7.90%. The firm earned $112.20 million during the quarter, compared to analysts’ expectations of $122.20 million. On average, analysts expect that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 21st. Investors of record on Monday, November 7th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, November 3rd. Sterling Bancorp’s dividend payout ratio (DPR) is presently 27.72%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio boosted its position in Sterling Bancorp by 47.2% in the second quarter. Strs Ohio now owns 7,800 shares of the financial services provider’s stock valued at $122,000 after buying an additional 2,500 shares during the period. BlackRock Inc. boosted its position in Sterling Bancorp by 126.8% in the first quarter. BlackRock Inc. now owns 8,030 shares of the financial services provider’s stock valued at $129,000 after buying an additional 4,489 shares during the period. Tower Research Capital LLC TRC boosted its position in Sterling Bancorp by 5,196.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,898 shares of the financial services provider’s stock valued at $140,000 after buying an additional 8,730 shares during the period. Sei Investments Co. boosted its position in Sterling Bancorp by 139.9% in the second quarter. Sei Investments Co. now owns 9,312 shares of the financial services provider’s stock valued at $146,000 after buying an additional 5,430 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Sterling Bancorp during the second quarter valued at $167,000. Hedge funds and other institutional investors own 77.81% of the company’s stock.
STL has been the subject of a number of research analyst reports. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Hovde Group initiated coverage on Sterling Bancorp in a report on Monday, October 10th. They issued an “outperform” rating and a $20.00 target price for the company. Jefferies Group restated a “buy” rating and issued a $18.50 target price on shares of Sterling Bancorp in a report on Thursday, July 7th. Keefe, Bruyette & Woods increased their target price on Sterling Bancorp from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Finally, FIG Partners restated an “outperform” rating on shares of Sterling Bancorp in a report on Wednesday, August 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $19.10.
Sterling Bancorp Company Profile