James F. Deutsch Sells 200,000 Shares of Sterling Bancorp (NYSE:STL) Stock

Sterling Bancorp (NYSE:STL) Director James F. Deutsch sold 200,000 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $25.22, for a total transaction of $5,044,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $12,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:STL traded down $0.65 during trading hours on Monday, reaching $21.90. 2,378,828 shares of the company were exchanged, compared to its average volume of 1,954,134. Sterling Bancorp has a twelve month low of $21.00 and a twelve month high of $26.50. The stock has a market capitalization of $5,068.85, a PE ratio of 15.64 and a beta of 1.12. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00.

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Sterling Bancorp (NYSE:STL) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Sterling Bancorp had a net margin of 12.46% and a return on equity of 8.93%. The firm had revenue of $265.00 million during the quarter, compared to analyst estimates of $267.08 million. The company’s quarterly revenue was up 115.3% compared to the same quarter last year. research analysts forecast that Sterling Bancorp will post 1.88 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of STL. TCI Wealth Advisors Inc. lifted its position in shares of Sterling Bancorp by 8,213.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 6,734 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 6,653 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Sterling Bancorp by 82.8% in the third quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 3,554 shares during the last quarter. Highlander Capital Management LLC increased its stake in Sterling Bancorp by 700.0% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 7,000 shares during the last quarter. Cigna Investments Inc. New purchased a new position in shares of Sterling Bancorp during the fourth quarter worth approximately $201,000. Finally, Connable Office Inc. purchased a new position in Sterling Bancorp in the 4th quarter valued at $202,000. 88.74% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $33.50 price objective on shares of Sterling Bancorp in a research note on Tuesday, February 27th. Jefferies Group restated a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a report on Thursday, January 25th. Maxim Group lifted their price objective on shares of Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Sterling Bancorp currently has a consensus rating of “Hold” and an average target price of $28.76.

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About Sterling Bancorp

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.

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