ValuEngine downgraded shares of Sterling Bancorp (NYSE:STL) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday.

STL has been the topic of several other research reports. Zacks Investment Research downgraded shares of Sterling Bancorp from a hold rating to a sell rating in a report on Wednesday, October 10th. Hovde Group cut their price objective on shares of Sterling Bancorp from $30.00 to $22.00 and set an outperform rating on the stock in a report on Thursday, October 25th. Maxim Group restated a buy rating and set a $36.00 price objective on shares of Sterling Bancorp in a report on Thursday, October 25th. Stephens restated a buy rating and set a $21.00 price objective on shares of Sterling Bancorp in a report on Wednesday, December 19th. Finally, TheStreet downgraded shares of Sterling Bancorp from a b- rating to a c+ rating in a report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $28.14.

Shares of Sterling Bancorp stock opened at $17.38 on Wednesday. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 12.41 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.14. Sterling Bancorp has a one year low of $15.62 and a one year high of $25.65.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $0.51 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.51. The business had revenue of $272.20 million during the quarter, compared to the consensus estimate of $278.79 million. Sterling Bancorp had a net margin of 23.31% and a return on equity of 9.96%. The firm’s revenue was up 96.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, sell-side analysts anticipate that Sterling Bancorp will post 1.97 EPS for the current year.

In other Sterling Bancorp news, Director Richard L. O’toole purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The shares were bought at an average price of $17.01 per share, for a total transaction of $85,050.00. Following the acquisition, the director now owns 35,713 shares in the company, valued at $607,478.13. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.09% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Sterling Bancorp by 1.2% in the 3rd quarter. BlackRock Inc. now owns 19,688,336 shares of the financial services provider’s stock worth $433,144,000 after buying an additional 224,675 shares during the period. Vanguard Group Inc. increased its holdings in Sterling Bancorp by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 19,590,740 shares of the financial services provider’s stock worth $430,995,000 after buying an additional 849,267 shares during the period. Vanguard Group Inc increased its holdings in Sterling Bancorp by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 19,590,740 shares of the financial services provider’s stock worth $430,995,000 after buying an additional 849,267 shares during the period. Alliancebernstein L.P. increased its holdings in Sterling Bancorp by 13.6% in the 3rd quarter. Alliancebernstein L.P. now owns 7,611,302 shares of the financial services provider’s stock worth $167,449,000 after buying an additional 909,591 shares during the period. Finally, Bank of America Corp DE increased its holdings in Sterling Bancorp by 142.4% in the 2nd quarter. Bank of America Corp DE now owns 3,647,348 shares of the financial services provider’s stock worth $85,713,000 after buying an additional 2,142,585 shares during the period. Institutional investors own 93.92% of the company’s stock.

Sterling Bancorp Company Profile

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

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Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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