Sterling Bancorp (NYSE:STL) Research Coverage Started at DA Davidson

DA Davidson started coverage on shares of Sterling Bancorp (NYSE:STL) in a research report released on Thursday, Benzinga reports. The brokerage issued a buy rating and a $25.00 price objective on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. FIG Partners reissued an outperform rating on shares of Sterling Bancorp in a research note on Monday, April 29th. Finally, Zacks Investment Research cut shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Sterling Bancorp currently has an average rating of Buy and an average target price of $25.33.

Shares of STL opened at $21.57 on Thursday. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 10.79 and a beta of 1.33. The company’s 50-day moving average is $20.60. Sterling Bancorp has a 52 week low of $15.62 and a 52 week high of $23.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.97 and a quick ratio of 0.95.

Sterling Bancorp (NYSE:STL) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $263.90 million for the quarter, compared to analysts’ expectations of $262.59 million. Sterling Bancorp had a net margin of 33.40% and a return on equity of 10.57%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts predict that Sterling Bancorp will post 2.12 earnings per share for the current year.

In other Sterling Bancorp news, insider Thomas X. Geisel sold 12,335 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $21.05, for a total transaction of $259,651.75. Following the sale, the insider now directly owns 27,047 shares of the company’s stock, valued at $569,339.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Javier L. Evan sold 1,533 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.60, for a total transaction of $31,579.80. Following the sale, the insider now directly owns 24,168 shares in the company, valued at $497,860.80. The disclosure for this sale can be found here. In the last three months, insiders sold 143,396 shares of company stock worth $3,043,774. 1.67% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Shine Investment Advisory Services Inc. lifted its position in shares of Sterling Bancorp by 137.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,988 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,150 shares in the last quarter. Bremer Bank National Association acquired a new position in shares of Sterling Bancorp during the first quarter worth approximately $46,000. Dupont Capital Management Corp acquired a new position in shares of Sterling Bancorp during the first quarter worth approximately $173,000. FSI Group LLC acquired a new position in shares of Sterling Bancorp during the first quarter worth approximately $200,000. Finally, Palouse Capital Management Inc. lifted its position in shares of Sterling Bancorp by 27.2% during the first quarter. Palouse Capital Management Inc. now owns 13,836 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 2,956 shares in the last quarter. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Bancorp Company Profile

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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Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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