Sterling Bancorp (NYSE:STL) – Stock analysts at FIG Partners issued their Q2 2019 earnings estimates for Sterling Bancorp in a research report issued on Monday, April 29th, Zacks Investment Research reports. FIG Partners analyst C. Marinac forecasts that the financial services provider will post earnings of $0.53 per share for the quarter. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Sterling Bancorp’s Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.58 EPS, FY2019 earnings at $2.15 EPS, Q1 2020 earnings at $0.56 EPS, Q2 2020 earnings at $0.57 EPS, Q3 2020 earnings at $0.60 EPS, Q4 2020 earnings at $0.60 EPS and FY2020 earnings at $2.32 EPS.
Sterling Bancorp (NYSE:STL) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $263.90 million during 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 business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS.
NYSE:STL traded down $0.20 during trading hours on Thursday, hitting $20.64. 2,435,000 shares of the company traded hands, compared to its average volume of 2,527,154. The stock has a market cap of $4.32 billion, a P/E ratio of 10.32 and a beta of 1.30. Sterling Bancorp has a twelve month low of $15.62 and a twelve month high of $25.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.97 and a quick ratio of 0.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, May 3rd. Sterling Bancorp’s dividend payout ratio is 14.00%.
In other news, CAO Rodney Whitwell sold 54,528 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $20.99, for a total value of $1,144,542.72. Following the completion of the transaction, the chief accounting officer now owns 91,252 shares in the company, valued at approximately $1,915,379.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas X. Geisel sold 12,335 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $21.05, for a total transaction of $259,651.75. Following the completion of the transaction, the insider now owns 27,047 shares of the company’s stock, valued at approximately $569,339.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,718 shares of company stock valued at $3,211,167. Corporate insiders own 1.67% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Sterling Bancorp by 58.8% in the 3rd quarter. Nordea Investment Management AB now owns 200,957 shares of the financial services provider’s stock valued at $4,421,000 after buying an additional 74,380 shares in the last quarter. Standard Life Aberdeen plc increased its position in shares of Sterling Bancorp by 7.6% during the 3rd quarter. Standard Life Aberdeen plc now owns 166,649 shares of the financial services provider’s stock worth $3,671,000 after purchasing an additional 11,773 shares in the last quarter. Prudential PLC increased its position in shares of Sterling Bancorp by 25.5% during the 4th quarter. Prudential PLC now owns 1,009,700 shares of the financial services provider’s stock worth $16,670,000 after purchasing an additional 205,400 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Sterling Bancorp by 3.5% during the 4th quarter. Texas Permanent School Fund now owns 146,863 shares of the financial services provider’s stock worth $2,425,000 after purchasing an additional 4,992 shares in the last quarter. Finally, Context BH Capital Management LP increased its position in shares of Sterling Bancorp by 344.4% during the 4th quarter. Context BH Capital Management LP now owns 374,712 shares of the financial services provider’s stock worth $6,186,000 after purchasing an additional 290,391 shares in the last quarter. Institutional investors own 93.86% 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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