ValuEngine Downgrades Sterling Bancorp (SBT) to Strong Sell

ValuEngine downgraded shares of Sterling Bancorp (NASDAQ:SBT) from a sell rating to a strong sell rating in a research note released on Tuesday, ValuEngine reports.

Separately, Piper Jaffray Companies assumed coverage on Sterling Bancorp in a research report on Tuesday, March 19th. They issued an overweight rating and a $14.00 price objective for the company.

Shares of SBT stock opened at $9.59 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $498.48 million, a PE ratio of 7.99 and a beta of 1.34. Sterling Bancorp has a one year low of $6.65 and a one year high of $14.73.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings data on Monday, January 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Sterling Bancorp had a return on equity of 20.36% and a net margin of 34.53%. The business had revenue of $36.72 million during the quarter. As a group, sell-side analysts expect that Sterling Bancorp will post 1.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SBT. Prudential Financial Inc. grew its position in shares of Sterling Bancorp by 32.4% in the 3rd quarter. Prudential Financial Inc. now owns 31,240 shares of the company’s stock valued at $354,000 after purchasing an additional 7,640 shares during the period. BlackRock Inc. grew its position in shares of Sterling Bancorp by 22.4% in the 3rd quarter. BlackRock Inc. now owns 1,078,931 shares of the company’s stock valued at $12,202,000 after purchasing an additional 197,507 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Sterling Bancorp in the 3rd quarter valued at approximately $226,000. Putnam Investments LLC acquired a new position in shares of Sterling Bancorp in the 3rd quarter valued at approximately $501,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Sterling Bancorp in the 3rd quarter valued at approximately $194,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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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