Brokerages Set Sterling Bancorp (NASDAQ:SBT) PT at $8.25

Shares of Sterling Bancorp (NASDAQ:SBT) have earned a consensus rating of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.25.

SBT has been the topic of several analyst reports. ValuEngine upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, January 5th. Zacks Investment Research upgraded Sterling Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 13th. BidaskClub upgraded Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 27th. Piper Sandler reiterated an “underweight” rating and issued a $6.00 target price (down previously from $7.50) on shares of Sterling Bancorp in a research note on Monday, March 9th. Finally, TheStreet lowered Sterling Bancorp from a “c-” rating to a “d+” rating in a research note on Monday, December 9th.

Hedge funds have recently modified their holdings of the company. Denali Advisors LLC grew its stake in shares of Sterling Bancorp by 19.7% during the fourth quarter. Denali Advisors LLC now owns 127,869 shares of the company’s stock worth $1,036,000 after acquiring an additional 21,000 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Sterling Bancorp by 46.9% during the third quarter. Squarepoint Ops LLC now owns 17,039 shares of the company’s stock worth $166,000 after acquiring an additional 5,439 shares during the last quarter. Strs Ohio grew its stake in shares of Sterling Bancorp by 789.3% during the fourth quarter. Strs Ohio now owns 66,700 shares of the company’s stock worth $540,000 after acquiring an additional 59,200 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Sterling Bancorp by 71.8% during the third quarter. First Trust Advisors LP now owns 63,753 shares of the company’s stock worth $622,000 after acquiring an additional 26,646 shares during the last quarter. Finally, Banc Funds Co. LLC grew its stake in shares of Sterling Bancorp by 2.7% during the fourth quarter. Banc Funds Co. LLC now owns 598,689 shares of the company’s stock worth $4,849,000 after acquiring an additional 15,589 shares during the last quarter. Institutional investors and hedge funds own 26.88% of the company’s stock.

Shares of SBT stock traded down $0.41 on Monday, hitting $4.24. The stock had a trading volume of 54,560 shares, compared to its average volume of 69,237. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average price of $6.06 and a 200 day moving average price of $8.28. The company has a market cap of $233.43 million, a PE ratio of 3.79 and a beta of 1.09. Sterling Bancorp has a one year low of $2.53 and a one year high of $10.55.

Sterling Bancorp (NASDAQ:SBT) last posted its earnings results on Wednesday, January 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Sterling Bancorp had a return on equity of 16.55% and a net margin of 30.49%. The company had revenue of $32.35 million for the quarter. Equities research analysts expect that Sterling Bancorp will post 0.78 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were paid a $0.01 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.04 annualized dividend and a yield of 0.94%. Sterling Bancorp’s dividend payout ratio (DPR) is presently 3.60%.

Sterling Bancorp Company Profile

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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