ValuEngine upgraded shares of Sterling Bancorp (NASDAQ:SBT) from a sell rating to a hold rating in a report issued on Sunday, ValuEngine reports.
Other equities research analysts also recently issued reports about the stock. Sandler O’Neill downgraded shares of Sterling Bancorp from a buy rating to a hold rating and set a $10.50 price objective for the company. in a research note on Monday, November 25th. Zacks Investment Research upgraded shares of Sterling Bancorp from a sell rating to a hold rating in a research note on Wednesday, October 30th. Finally, TheStreet downgraded shares of Sterling Bancorp from a c- rating to a d+ rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $11.83.
Shares of SBT stock opened at $7.85 on Friday. Sterling Bancorp has a one year low of $6.75 and a one year high of $10.78. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day moving average price of $8.46 and a 200 day moving average price of $9.48. The firm has a market capitalization of $396.10 million, a price-to-earnings ratio of 6.54 and a beta of 1.23.
Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Sterling Bancorp had a net margin of 31.01% and a return on equity of 17.26%. The firm had revenue of $33.18 million during the quarter, compared to analyst estimates of $34.40 million.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in Sterling Bancorp by 45.1% during the second quarter. Renaissance Technologies LLC now owns 150,200 shares of the company’s stock worth $1,497,000 after buying an additional 46,700 shares during the period. Denali Advisors LLC grew its stake in Sterling Bancorp by 142.0% during the third quarter. Denali Advisors LLC now owns 106,869 shares of the company’s stock worth $1,043,000 after buying an additional 62,705 shares during the period. Mackay Shields LLC grew its stake in Sterling Bancorp by 10.8% during the third quarter. Mackay Shields LLC now owns 77,822 shares of the company’s stock worth $760,000 after buying an additional 7,600 shares during the period. First Trust Advisors LP grew its stake in 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 buying an additional 26,646 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Sterling Bancorp by 48.5% in the second quarter. Prudential Financial Inc. now owns 56,648 shares of the company’s stock valued at $564,000 after purchasing an additional 18,492 shares during the period. Institutional investors own 27.88% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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