Sterling Bancorp (NASDAQ:SBT) Releases Earnings Results

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Sterling Bancorp (NASDAQ:SBT) announced its earnings results on Sunday. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03, MarketWatch Earnings reports. Sterling Bancorp had a net margin of 7.67% and a return on equity of 3.83%.

Shares of NASDAQ:SBT traded down $0.11 during trading on Tuesday, hitting $4.78. 4,823 shares of the company’s stock were exchanged, compared to its average volume of 64,029. Sterling Bancorp has a 1-year low of $2.61 and a 1-year high of $5.95. The firm has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $4.73. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.16. The firm has a market cap of $239.02 million, a P/E ratio of 4.48 and a beta of 0.81.

A number of equities analysts have weighed in on SBT shares. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Friday. TheStreet upgraded shares of Sterling Bancorp from a “d+” rating to a “c-” rating in a research report on Wednesday, April 7th. Finally, Hovde Group started coverage on shares of Sterling Bancorp in a research report on Friday, January 29th. They set an “outperform” rating and a $6.00 price target for the company.

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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Earnings History for Sterling Bancorp (NASDAQ:SBT)

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