Brokerages Anticipate Sterling Bancorp (STL) Will Post Earnings of $0.45 Per Share

Equities research analysts expect Sterling Bancorp (NYSE:STL) to report $0.45 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have provided estimates for Sterling Bancorp’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.46. Sterling Bancorp reported earnings of $0.31 per share during the same quarter last year, which would suggest a positive year over year growth rate of 45.2%. The business is expected to report its next earnings results on Tuesday, April 24th.

On average, analysts expect that Sterling Bancorp will report full-year earnings of $1.90 per share for the current financial year, with EPS estimates ranging from $1.80 to $1.98. For the next financial year, analysts forecast that the firm will post earnings of $2.15 per share, with EPS estimates ranging from $2.05 to $2.26. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Sterling Bancorp.

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Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $267.08 million. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. The company’s quarterly revenue was up 115.3% on a year-over-year basis.

A number of brokerages have commented on STL. Keefe, Bruyette & Woods restated a “buy” rating and set a $34.00 price objective on shares of Sterling Bancorp in a research note on Thursday. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, March 28th. Maxim Group boosted their price target on Sterling Bancorp from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Jefferies Group reiterated a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $28.84.

In related news, Director James F. Deutsch sold 200,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 500 shares in the company, valued at $12,610. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Sterling Bancorp by 32.0% during the fourth quarter. BlackRock Inc. now owns 23,516,070 shares of the financial services provider’s stock valued at $578,494,000 after buying an additional 5,699,675 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Sterling Bancorp during the fourth quarter valued at approximately $176,300,000. Clearbridge Investments LLC raised its stake in Sterling Bancorp by 794,685.8% during the fourth quarter. Clearbridge Investments LLC now owns 5,078,681 shares of the financial services provider’s stock valued at $124,936,000 after buying an additional 5,078,042 shares in the last quarter. Victory Capital Management Inc. raised its stake in Sterling Bancorp by 54.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,053,762 shares of the financial services provider’s stock valued at $124,323,000 after buying an additional 1,789,102 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Sterling Bancorp by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 3,606,466 shares of the financial services provider’s stock valued at $88,719,000 after buying an additional 135,984 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.

Shares of STL opened at $21.70 on Thursday. The stock has a market cap of $5,035.13, a price-to-earnings ratio of 15.50 and a beta of 1.12. Sterling Bancorp has a 12 month low of $21.00 and a 12 month high of $26.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00.

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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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