Sterling Bancorp (NYSE:STL) has earned a consensus rating of “Buy” from the six research firms that are currently covering the firm. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.13.
A number of analysts have commented on the stock. Jefferies Group reaffirmed a “buy” rating and set a $18.50 price target on shares of Sterling Bancorp in a research report on Thursday, July 7th. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Maxim Group began coverage on shares of Sterling Bancorp in a research report on Wednesday, June 22nd. They set a “buy” rating and a $19.00 price objective on the stock. Finally, TheStreet cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th.
Shares of Sterling Bancorp (NYSE:STL) traded up 0.54% during trading on Wednesday, reaching $16.85. The company’s stock had a trading volume of 591,147 shares. Sterling Bancorp has a 12 month low of $13.20 and a 12 month high of $17.75. The firm has a market cap of $2.20 billion and a PE ratio of 27.94. The stock’s 50 day moving average price is $16.09 and its 200-day moving average price is $15.69.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Monday, August 8th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.67%.
In related news, Director Craig S. Thompson sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $15.64, for a total value of $31,280.00. Following the transaction, the director now owns 263,600 shares of the company’s stock, valued at approximately $4,122,704. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Craig S. Thompson sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $16.54, for a total transaction of $49,620.00. Following the completion of the transaction, the director now directly owns 265,600 shares in the company, valued at approximately $4,393,024. The disclosure for this sale can be found here.
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
