Wall Street brokerages expect Sterling Bancorp (NYSE:STL) to post $250.73 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sterling Bancorp's earnings, with the highest sales estimate coming in at $251.70 million and the lowest estimate coming in at $250.20 million. Sterling Bancorp reported sales of $278.74 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The business is expected to report its next quarterly earnings report on Wednesday, October 28th.
According to Zacks, analysts expect that Sterling Bancorp will report full-year sales of $993.47 million for the current year, with estimates ranging from $980.00 million to $1.01 billion. For the next fiscal year, analysts anticipate that the business will report sales of $966.25 million, with estimates ranging from $964.85 million to $968.00 million. Zacks' sales averages are an average based on a survey of sell-side research firms that follow Sterling Bancorp.
Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $239.39 million during the quarter, compared to the consensus estimate of $242.51 million. Sterling Bancorp had a return on equity of 6.30% and a net margin of 22.93%.
Several analysts have recently issued reports on STL shares. Citigroup upped their target price on shares of Sterling Bancorp from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, June 18th. DA Davidson reiterated a "buy" rating on shares of Sterling Bancorp in a report on Monday, September 14th. Zacks Investment Research downgraded shares of Sterling Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, July 15th. Finally, Maxim Group reiterated a "buy" rating and issued a $20.00 target price on shares of Sterling Bancorp in a report on Friday, July 24th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Sterling Bancorp has a consensus rating of "Hold" and an average target price of $18.10.
NYSE STL opened at $10.01 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.95 billion, a P/E ratio of 7.05 and a beta of 1.65. The business has a fifty day simple moving average of $11.75 and a 200 day simple moving average of $11.45. Sterling Bancorp has a 12 month low of $7.01 and a 12 month high of $21.63.
In related news, insider Thomas X. Geisel sold 7,927 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $11.46, for a total transaction of $90,843.42. Following the completion of the transaction, the insider now owns 27,172 shares in the company, valued at $311,391.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of STL. Creative Financial Designs Inc. ADV bought a new position in Sterling Bancorp during the second quarter valued at about $28,000. Ellevest Inc. boosted its position in Sterling Bancorp by 1,324.1% during the second quarter. Ellevest Inc. now owns 5,383 shares of the financial services provider's stock worth $63,000 after purchasing an additional 5,005 shares during the period. FinTrust Capital Advisors LLC bought a new position in Sterling Bancorp during the first quarter worth about $75,000. Fifth Third Bancorp boosted its position in Sterling Bancorp by 31.2% during the second quarter. Fifth Third Bancorp now owns 6,833 shares of the financial services provider's stock worth $80,000 after purchasing an additional 1,623 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Sterling Bancorp during the second quarter worth about $98,000. Institutional investors own 82.93% 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 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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