Sterling Bancorp (NASDAQ:SBT) Receives $8.25 Average Target Price from Analysts

Sterling Bancorp (NASDAQ:SBT) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.25.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP grew its holdings in Sterling Bancorp by 35.1% during the 4th quarter. Royce & Associates LP now owns 5,829 shares of the company’s stock valued at $47,000 after buying an additional 1,513 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Sterling Bancorp by 5.3% in the fourth quarter. TD Asset Management Inc. now owns 58,759 shares of the company’s stock valued at $476,000 after purchasing an additional 2,958 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Sterling Bancorp by 5.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 60,003 shares of the company’s stock valued at $486,000 after purchasing an additional 3,166 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Sterling Bancorp by 19.2% in the fourth quarter. Rhumbline Advisers now owns 33,696 shares of the company’s stock valued at $273,000 after purchasing an additional 5,430 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Sterling Bancorp by 46.9% in the third quarter. Squarepoint Ops LLC now owns 17,039 shares of the company’s stock valued at $166,000 after purchasing an additional 5,439 shares in the last quarter. 26.88% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SBT traded down $0.41 during trading on Monday, hitting $4.24. The company’s stock had a trading volume of 54,560 shares, compared to its average volume of 69,237. Sterling Bancorp has a 12 month low of $2.53 and a 12 month high of $10.55. The firm has a market cap of $233.43 million, a price-to-earnings ratio of 3.79 and a beta of 1.09. The company has a 50-day moving average of $6.06 and a 200-day moving average of $8.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.16 and a quick ratio of 1.16.

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

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