Sterling Bancorp (STL) EVP Sells $109,066.75 in Stock
Sterling Bancorp (NYSE:STL) EVP Michael E. Finn sold 4,535 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $24.05, for a total transaction of $109,066.75. Following the completion of the sale, the executive vice president now owns 35,288 shares of the company’s stock, valued at approximately $848,676.40. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Sterling Bancorp (STL) traded up $0.05 during trading hours on Friday, hitting $23.55. 2,438,468 shares of the stock traded hands, compared to its average volume of 2,111,671. Sterling Bancorp has a 12 month low of $19.86 and a 12 month high of $25.85. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.00 and a current ratio of 0.99. The firm has a market cap of $5,280.62, a PE ratio of 18.22 and a beta of 1.05.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Sterling Bancorp had a return on equity of 9.08% and a net margin of 28.58%. The firm had revenue of $134.06 million for the quarter, compared to the consensus estimate of $135.09 million. During the same period in the previous year, the business earned $0.29 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. sell-side analysts anticipate that Sterling Bancorp will post 1.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, November 3rd. Sterling Bancorp’s payout ratio is 22.58%.
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A number of institutional investors have recently added to or reduced their stakes in STL. First Bank & Trust boosted its stake in Sterling Bancorp by 402.6% during the 2nd quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 3,970 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Sterling Bancorp by 70.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 2,119 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sterling Bancorp by 8.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 415 shares during the last quarter. M&T Bank Corp bought a new position in Sterling Bancorp during the 2nd quarter worth approximately $205,000. Finally, Virginia Retirement Systems ET AL bought a new position in Sterling Bancorp during the 3rd quarter worth approximately $205,000. 91.22% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, October 11th. Royal Bank Of Canada lowered their price objective on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price objective on shares of Sterling Bancorp in a research report on Thursday, October 12th. Maxim Group restated a “buy” rating and issued a $30.00 price objective on shares of Sterling Bancorp in a research report on Wednesday, October 25th. Finally, BidaskClub cut shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Sterling Bancorp presently has an average rating of “Buy” and an average price target of $27.69.
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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