ValuEngine Lowers Sterling Bancorp (NYSE:STL) to Hold

Sterling Bancorp (NYSE:STL) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday, September 7th.

A number of other brokerages have also weighed in on STL. Royal Bank Of Canada reissued a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th. BidaskClub raised Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target on shares of Sterling Bancorp in a research note on Friday, May 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Sterling Bancorp in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $27.07.

Sterling Bancorp (STL) traded up 0.90% on Thursday, reaching $22.45. 3,958,643 shares of the company traded hands. Sterling Bancorp has a 52-week low of $16.75 and a 52-week high of $25.85. The stock has a 50-day moving average price of $22.33 and a 200-day moving average price of $23.01. The firm has a market cap of $3.05 billion, a P/E ratio of 18.72 and a beta of 1.07.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. The firm had revenue of $126.88 million for the quarter, compared to analysts’ expectations of $133.85 million. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. Analysts anticipate that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.

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In other Sterling Bancorp news, Director Burt Steinberg bought 10,000 shares of Sterling Bancorp stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $21.88 per share, for a total transaction of $218,800.00. Following the completion of the purchase, the director now directly owns 135,146 shares in the company, valued at approximately $2,956,994.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard L. O’toole bought 4,000 shares of Sterling Bancorp stock in a transaction on Thursday, July 27th. The stock was acquired at an average price of $22.60 per share, for a total transaction of $90,400.00. Following the purchase, the director now owns 21,291 shares of the company’s stock, valued at $481,176.60. The disclosure for this purchase can be found here. 3.74% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in STL. Waldron LP increased its stake in Sterling Bancorp by 15.4% in the first quarter. Waldron LP now owns 40,433 shares of the financial services provider’s stock worth $958,000 after purchasing an additional 5,385 shares during the period. Russell Investments Group Ltd. grew its position in shares of Sterling Bancorp by 9.7% during the 1st quarter. Russell Investments Group Ltd. now owns 425,389 shares of the financial services provider’s stock worth $10,082,000 after buying an additional 37,736 shares in the last quarter. Tocqueville Asset Management L.P. bought a new position in shares of Sterling Bancorp during the 1st quarter worth $214,000. Great West Life Assurance Co. Can grew its position in shares of Sterling Bancorp by 10.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 187,503 shares of the financial services provider’s stock worth $4,434,000 after buying an additional 17,037 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Sterling Bancorp during the 1st quarter worth $1,653,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sterling Bancorp (NYSE:STL)

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