Sterling Bancorp (STL) Receives “Buy” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their buy rating on shares of Sterling Bancorp (NYSE:STL) in a research note published on Thursday morning. They currently have a $34.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also recently commented on STL. Zacks Investment Research upgraded Sterling Bancorp from a hold rating to a buy rating and set a $26.00 target price for the company in a report on Wednesday, March 28th. Maxim Group lifted their target price on Sterling Bancorp from $30.00 to $32.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Finally, Jefferies Group reiterated a buy rating and issued a $30.00 target price on shares of Sterling Bancorp in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $28.84.

NYSE:STL opened at $21.70 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Bancorp has a 1 year low of $21.00 and a 1 year high of $26.50. The company has a market capitalization of $5,035.13, a price-to-earnings ratio of 15.50 and a beta of 1.12.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $265.00 million for the quarter, compared to the consensus estimate of $267.08 million. The company’s revenue was up 115.3% on a year-over-year basis. equities analysts expect that Sterling Bancorp will post 1.9 earnings per share for the current fiscal year.

In other news, Director James F. Deutsch sold 200,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $25.22, for a total value of $5,044,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $12,610. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.74% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its holdings in shares of Sterling Bancorp by 3.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 56,900 shares of the financial services provider’s stock worth $1,400,000 after purchasing an additional 2,000 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Sterling Bancorp by 2.4% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 121,913 shares of the financial services provider’s stock valued at $3,000,000 after acquiring an additional 2,849 shares during the period. Advisor Group Inc. boosted its holdings in Sterling Bancorp by 36.3% during the 4th quarter. Advisor Group Inc. now owns 12,159 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 3,238 shares during the period. Raymond James & Associates boosted its holdings in Sterling Bancorp by 6.7% during the 4th quarter. Raymond James & Associates now owns 54,132 shares of the financial services provider’s stock valued at $1,332,000 after acquiring an additional 3,385 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Sterling Bancorp by 82.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 3,554 shares during the period. Hedge funds and other institutional investors own 88.74% of the company’s stock.

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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.

Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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