Brokerages predict that Sterling Bancorp (NYSE:STL) will post $0.49 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Sterling Bancorp’s earnings. The lowest EPS estimate is $0.45 and the highest is $0.51. Sterling Bancorp reported earnings per share of $0.45 during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.9%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, April 24th.
On average, analysts expect that Sterling Bancorp will report full-year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $2.06 to $2.11. For the next year, analysts expect that the business will report earnings of $2.23 per share, with EPS estimates ranging from $2.15 to $2.32. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last issued its earnings results on Wednesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Sterling Bancorp had a net margin of 33.95% and a return on equity of 10.54%. The business had revenue of $265.35 million for the quarter, compared to analyst estimates of $266.32 million. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was up 2.9% on a year-over-year basis.
In other Sterling Bancorp news, Director James J. Landy sold 55,000 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $19.36, for a total value of $1,064,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian T. Edwards sold 9,855 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.19, for a total transaction of $198,972.45. Following the completion of the transaction, the insider now owns 98,050 shares in the company, valued at $1,979,629.50. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in STL. BlackRock Inc. lifted its position in shares of Sterling Bancorp by 3.3% during the fourth quarter. BlackRock Inc. now owns 20,342,074 shares of the financial services provider’s stock worth $335,847,000 after purchasing an additional 653,738 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sterling Bancorp by 4.5% during the third quarter. Vanguard Group Inc. now owns 19,590,740 shares of the financial services provider’s stock worth $430,995,000 after purchasing an additional 849,267 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Sterling Bancorp by 4.5% during the third quarter. Vanguard Group Inc now owns 19,590,740 shares of the financial services provider’s stock worth $430,995,000 after purchasing an additional 849,267 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Sterling Bancorp by 8.4% during the fourth quarter. Bank of America Corp DE now owns 5,535,928 shares of the financial services provider’s stock worth $91,399,000 after purchasing an additional 428,261 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Sterling Bancorp by 1.3% during the fourth quarter. Victory Capital Management Inc. now owns 4,529,873 shares of the financial services provider’s stock worth $74,788,000 after purchasing an additional 56,862 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.
Shares of Sterling Bancorp stock traded down $0.38 during trading on Monday, hitting $20.30. 1,036,083 shares of the company’s stock traded hands, compared to its average volume of 2,537,002. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.93 and a current ratio of 1.00. Sterling Bancorp has a twelve month low of $15.62 and a twelve month high of $25.65. The firm has a market cap of $4.40 billion, a P/E ratio of 10.15 and a beta of 1.25.
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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