$259.03 Million in Sales Expected for Sterling Bancorp (STL) This Quarter

Brokerages expect Sterling Bancorp (NYSE:STL) to post $259.03 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Sterling Bancorp’s earnings. The highest sales estimate is $266.20 million and the lowest is $255.10 million. Sterling Bancorp reported sales of $121.63 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 113%. The company is expected to report its next earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Sterling Bancorp will report full-year sales of $259.03 million for the current fiscal year, with estimates ranging from $1.04 billion to $1.12 billion. For the next financial year, analysts forecast that the firm will post sales of $1.15 billion per share, with estimates ranging from $1.08 billion to $1.24 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Sterling Bancorp.

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Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. The firm had revenue of $265.00 million during the quarter, compared to analysts’ expectations of $267.08 million. Sterling Bancorp’s revenue was up 115.3% compared to the same quarter last year.

Several research firms recently commented on STL. Jefferies Group reissued a “buy” rating and set a $30.00 target price on shares of Sterling Bancorp in a research note on Thursday, January 25th. Maxim Group boosted their target price on Sterling Bancorp from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $34.00 target price on shares of Sterling Bancorp in a research note on Thursday. Finally, Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, March 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Sterling Bancorp has a consensus rating of “Hold” and a consensus price target of $28.84.

STL opened at $21.70 on Friday. Sterling Bancorp has a 12 month low of $21.00 and a 12 month high of $26.50. The firm has a market cap of $5,001.42, a P/E ratio of 15.50 and a beta of 1.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25.

In other news, Director James F. Deutsch sold 200,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $25.22, for a total transaction of $5,044,000.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $12,610. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.74% of the company’s stock.

Several large investors have recently added to or reduced their stakes in STL. Lazard Asset Management LLC acquired a new position in shares of Sterling Bancorp during the 4th quarter worth about $176,300,000. BlackRock Inc. boosted its position in shares of Sterling Bancorp by 32.0% during the 4th quarter. BlackRock Inc. now owns 23,516,070 shares of the financial services provider’s stock worth $578,494,000 after acquiring an additional 5,699,675 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Sterling Bancorp by 794,685.8% during the 4th quarter. Clearbridge Investments LLC now owns 5,078,681 shares of the financial services provider’s stock worth $124,936,000 after acquiring an additional 5,078,042 shares in the last quarter. Earnest Partners LLC acquired a new position in shares of Sterling Bancorp during the 4th quarter worth about $53,843,000. Finally, Victory Capital Management Inc. boosted its position in shares of Sterling Bancorp by 54.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,053,762 shares of the financial services provider’s stock worth $124,323,000 after acquiring an additional 1,789,102 shares in the last quarter. 88.74% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Sterling Bancorp (NYSE:STL)

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