Trading Report: The 1,000 Shares of Stock are sold by Sterling Bancorp (STL) Director Craig S. Thompson

The 1,000 Shares of Stock are sold by Sterling Bancorp (STL) Director Craig S. Thompson

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

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