Sterling Bancorp (NASDAQ:SBT) – Analysts at Piper Jaffray Companies dropped their Q2 2019 earnings per share (EPS) estimates for Sterling Bancorp in a research note issued to investors on Tuesday, April 30th, according to Zacks Investment Research. Piper Jaffray Companies analyst M. Clark now expects that the company will post earnings of $0.28 per share for the quarter, down from their previous forecast of $0.29. Piper Jaffray Companies currently has a “Overweight” rating and a $14.00 target price on the stock. Piper Jaffray Companies also issued estimates for Sterling Bancorp’s Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.29 EPS and Q1 2020 earnings at $0.30 EPS.
Separately, ValuEngine upgraded Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th.
Shares of NASDAQ SBT remained flat at $$9.86 during mid-day trading on Wednesday. The stock had a trading volume of 50,910 shares, compared to its average volume of 82,948. The company has a market cap of $509.91 million, a PE ratio of 8.22 and a beta of 1.26. Sterling Bancorp has a 12 month low of $6.65 and a 12 month high of $14.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.
Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. Sterling Bancorp had a return on equity of 19.55% and a net margin of 33.72%. The business had revenue of $34.13 million for the quarter, compared to analysts’ expectations of $33.60 million.
A number of institutional investors and hedge funds have recently made changes to their positions in SBT. BNP Paribas Arbitrage SA increased its holdings in Sterling Bancorp by 938.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,652 shares of the company’s stock worth $47,000 after acquiring an additional 4,204 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Sterling Bancorp in the 4th quarter worth about $90,000. SG Americas Securities LLC purchased a new stake in Sterling Bancorp in the 4th quarter worth about $108,000. SEI Investments Co purchased a new stake in Sterling Bancorp in the 1st quarter worth about $128,000. Finally, Denali Advisors LLC purchased a new stake in Sterling Bancorp in the 1st quarter worth about $138,000. 31.15% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Saturday, May 25th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.41%. The ex-dividend date is Thursday, May 23rd. Sterling Bancorp’s dividend payout ratio (DPR) is currently 3.33%.
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.