According to Zacks, “Sterling Bancorp, Inc. is a unitary thrift holding company with its primary branch operations in San Francisco and Los Angeles, California. The company through its wholly owned bank subsidiary, Sterling Bank and Trust, F.S.B., Sterling offers loan products to the residential and commercial markets, as well as retail banking services. Sterling Bancorp, Inc. is headquartered in Southfield, Michigan. “
Several other equities analysts also recently commented on the company. Sandler O’Neill downgraded Sterling Bancorp from a “buy” rating to a “hold” rating and set a $10.50 target price for the company. in a research report on Monday, November 25th. ValuEngine upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, January 5th. Finally, TheStreet cut Sterling Bancorp from a “c-” rating to a “d+” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $11.83.
Sterling Bancorp stock opened at $7.32 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $368.49 million, a PE ratio of 6.55 and a beta of 1.24. Sterling Bancorp has a one year low of $6.75 and a one year high of $10.78. The business has a 50 day simple moving average of $7.64 and a 200 day simple moving average of $9.02.
Sterling Bancorp (NASDAQ:SBT) last posted its earnings results on Wednesday, January 29th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $32.35 million during the quarter. Sterling Bancorp had a return on equity of 16.55% and a net margin of 30.49%. Equities analysts anticipate that Sterling Bancorp will post 0.9 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Banc Funds Co. LLC increased its holdings in Sterling Bancorp by 2.7% during the 4th quarter. Banc Funds Co. LLC now owns 598,689 shares of the company’s stock valued at $4,849,000 after purchasing an additional 15,589 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Sterling Bancorp by 70.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 490,044 shares of the company’s stock valued at $3,969,000 after purchasing an additional 202,540 shares in the last quarter. Eaton Vance Management acquired a new stake in Sterling Bancorp during the 4th quarter valued at $3,240,000. State Street Corp increased its holdings in Sterling Bancorp by 4.0% during the 4th quarter. State Street Corp now owns 379,114 shares of the company’s stock valued at $3,071,000 after purchasing an additional 14,611 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Sterling Bancorp by 48.0% in the 4th quarter. Renaissance Technologies LLC now owns 326,833 shares of the company’s stock valued at $2,647,000 after buying an additional 105,928 shares during the period. 28.03% of the stock is owned by hedge funds and other institutional investors.
About Sterling Bancorp
Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.
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