Sterling Bancorp Announces Quarterly Dividend of $0.07 (NYSE:STL)

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Sterling Bancorp (NYSE:STL) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.07 per share by the financial services provider on Monday, November 18th. This represents a $0.28 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 1st.

STL stock traded down $0.35 during trading hours on Wednesday, reaching $20.18. The stock had a trading volume of 44,997 shares, compared to its average volume of 1,306,073. The stock has a market capitalization of $4.14 billion, a PE ratio of 10.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50-day simple moving average of $20.07 and a 200 day simple moving average of $20.35. Sterling Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $22.17.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). The firm had revenue of $259.76 million during the quarter, compared to analyst estimates of $262.65 million. Sterling Bancorp had a net margin of 32.25% and a return on equity of 10.12%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. On average, sell-side analysts forecast that Sterling Bancorp will post 2.08 EPS for the current fiscal year.

Several equities analysts have recently weighed in on STL shares. Stephens started coverage on shares of Sterling Bancorp in a research report on Monday. They issued an “overweight” rating on the stock. Maxim Group set a $28.00 price objective on shares of Sterling Bancorp and gave the company a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. DA Davidson reissued a “buy” rating on shares of Sterling Bancorp in a research report on Monday, July 22nd. Finally, Piper Jaffray Companies set a $26.00 price objective on shares of Sterling Bancorp and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.86.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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Dividend History for Sterling Bancorp (NYSE:STL)

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