Sterling Bancorp (NYSE:STL) Director James F. Deutsch Sells 123,980 Shares

Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 123,980 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $25.02, for a total transaction of $3,101,979.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of STL stock opened at $24.50 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.23. Sterling Bancorp has a 12-month low of $24.15 and a 12-month high of $25.65. The firm has a market cap of $5.52 billion, a PE ratio of 16.12 and a beta of 1.12.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Sterling Bancorp had a net margin of 16.84% and a return on equity of 9.24%. The company had revenue of $262.57 million during the quarter, compared to the consensus estimate of $259.67 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was up 108.8% compared to the same quarter last year. research analysts anticipate that Sterling Bancorp will post 1.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 21st. Investors of record on Monday, May 7th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 4th. Sterling Bancorp’s payout ratio is 20.00%.

Several equities research analysts have commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Sterling Bancorp in a research note on Wednesday, April 25th. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 30th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $34.00 price objective on shares of Sterling Bancorp in a research report on Thursday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $30.14.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mason Street Advisors LLC boosted its holdings in Sterling Bancorp by 1.9% during the first quarter. Mason Street Advisors LLC now owns 112,863 shares of the financial services provider’s stock worth $2,545,000 after purchasing an additional 2,157 shares during the last quarter. Suntrust Banks Inc. lifted its stake in Sterling Bancorp by 17.6% in the first quarter. Suntrust Banks Inc. now owns 15,847 shares of the financial services provider’s stock valued at $356,000 after acquiring an additional 2,376 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Sterling Bancorp by 2.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 121,913 shares of the financial services provider’s stock valued at $3,000,000 after acquiring an additional 2,849 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Sterling Bancorp by 16.6% in the first quarter. Neuberger Berman Group LLC now owns 21,615 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 3,082 shares during the last quarter. Finally, Advisor Group Inc. lifted its stake in Sterling Bancorp by 36.3% in the fourth quarter. Advisor Group Inc. now owns 12,159 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 3,238 shares during the last quarter. Institutional investors and hedge funds own 91.18% 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.

Insider Buying and Selling by Quarter for Sterling Bancorp (NYSE:STL)

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