Zacks: Sterling Bancorp (NASDAQ:SBT) Given Average Rating of “Strong Buy” by Analysts

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Shares of Sterling Bancorp (NASDAQ:SBT) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price objective of $13.00 for the company and are expecting that the company will post $0.27 earnings per share for the current quarter, according to Zacks. Zacks has also given Sterling Bancorp an industry rank of 171 out of 256 based on the ratings given to its competitors.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. ValuEngine downgraded shares of Valero Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Finally, Piper Jaffray Companies set a $90.00 price target on shares of Tilray and gave the company a “buy” rating in a report on Tuesday, March 19th.

Shares of SBT traded down $0.05 during midday trading on Thursday, hitting $10.00. 818 shares of the company traded hands, compared to its average volume of 88,722. The firm has a 50 day simple moving average of $9.79. Sterling Bancorp has a 52 week low of $6.65 and a 52 week high of $13.88. The stock has a market cap of $534.34 million, a PE ratio of 8.33 and a beta of 1.33. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.21 and a current ratio of 1.21.

Sterling Bancorp (NASDAQ:SBT) last released its quarterly earnings data on Monday, April 29th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. Sterling Bancorp had a net margin of 33.72% and a return on equity of 19.55%. The business had revenue of $34.13 million during the quarter, compared to the consensus estimate of $33.60 million. On average, equities analysts anticipate that Sterling Bancorp will post 1.13 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Sterling Bancorp by 1.5% during the fourth quarter. BlackRock Inc. now owns 1,095,474 shares of the company’s stock valued at $7,614,000 after buying an additional 16,543 shares during the period. Banc Funds Co. LLC boosted its stake in Sterling Bancorp by 30.6% in the first quarter. Banc Funds Co. LLC now owns 563,100 shares of the company’s stock valued at $5,710,000 after acquiring an additional 132,100 shares in the last quarter. TCW Group Inc. acquired a new stake in Sterling Bancorp in the first quarter valued at approximately $2,839,000. Geode Capital Management LLC boosted its stake in Sterling Bancorp by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 234,306 shares of the company’s stock valued at $1,628,000 after acquiring an additional 13,036 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Sterling Bancorp by 202.4% in the fourth quarter. Bank of New York Mellon Corp now owns 188,002 shares of the company’s stock valued at $1,306,000 after acquiring an additional 125,822 shares in the last quarter. 29.19% of the stock is currently owned by institutional investors.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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