Sterling Bancorp (NASDAQ:SBT) Issues Quarterly Earnings Results

Sterling Bancorp (NASDAQ:SBTGet Rating) posted its earnings results on Monday. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01, MarketWatch Earnings reports. The company had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.60 million. Sterling Bancorp had a net margin of 15.73% and a return on equity of 5.79%. During the same quarter in the prior year, the company posted $0.05 earnings per share.

Shares of NASDAQ:SBT traded down $0.01 during mid-day trading on Wednesday, hitting $6.80. 52,955 shares of the company traded hands, compared to its average volume of 55,464. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.07. Sterling Bancorp has a 52-week low of $4.33 and a 52-week high of $7.26. The firm’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $6.05. The firm has a market cap of $343.41 million, a P/E ratio of 15.45 and a beta of 0.72.

Separately, Zacks Investment Research raised Sterling Bancorp from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Wednesday, April 6th.

Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its holdings in Sterling Bancorp by 2,806.9% during the 3rd quarter. Alliancebernstein L.P. now owns 1,818,101 shares of the company’s stock worth $9,381,000 after buying an additional 1,755,557 shares during the period. Petiole USA ltd bought a new position in Sterling Bancorp in the fourth quarter worth $594,000. Kennedy Capital Management Inc. raised its stake in Sterling Bancorp by 74.2% during the fourth quarter. Kennedy Capital Management Inc. now owns 176,621 shares of the company’s stock worth $1,016,000 after acquiring an additional 75,214 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in Sterling Bancorp during the third quarter worth $337,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Sterling Bancorp in the fourth quarter valued at $359,000. Institutional investors and hedge funds own 22.31% of the company’s stock.

Sterling Bancorp Company Profile (Get Rating)

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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Earnings History for Sterling Bancorp (NASDAQ:SBT)

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