Earnings results for Sterling Bancorp (NYSE:STL)
Sterling Bancorp is expected* to report earnings on 10/21/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.37. The reported EPS for the same quarter last year was $0.52.
Sterling Bancorp last announced its quarterly earnings results on July 22nd, 2020. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $239.39 million for the quarter, compared to the consensus estimate of $242.51 million. Sterling Bancorp has generated $2.07 earnings per share over the last year and currently has a price-to-earnings ratio of 8.7. Sterling Bancorp has confirmed that its next quarterly earnings report will be published on Wednesday, October 21st, 2020.
Analyst Opinion on Sterling Bancorp (NYSE:STL)
6 Wall Street analysts have issued ratings and price targets for Sterling Bancorp in the last 12 months. Their average twelve-month price target is $18.10, predicting that the stock has a possible upside of 47.15%. The high price target for STL is $25.50 and the low price target for STL is $14.00. There are currently 1 hold rating and 5 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Sterling Bancorp has received a consensus rating of Buy. The company’s average rating score is 2.83, and is based on 5 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $18.10, Sterling Bancorp has a forecasted upside of 47.2% from its current price of $12.30. Sterling Bancorp has only been the subject of 2 research reports in the past 90 days.
Dividend Strength: Sterling Bancorp (NYSE:STL)
Sterling Bancorp pays a meaningful dividend of 2.32%, higher than the bottom 25% of all stocks that pay dividends. Sterling Bancorp has only been increasing its dividend for 1 years. The dividend payout ratio of Sterling Bancorp is 13.53%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Sterling Bancorp will have a dividend payout ratio of 17.95% next year. This indicates that Sterling Bancorp will be able to sustain or increase its dividend.
Insiders buying/selling: Sterling Bancorp (NYSE:STL)
In the past three months, Sterling Bancorp insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $90,843.00 in company stock. Only 0.96% of the stock of Sterling Bancorp is held by insiders. 82.93% of the stock of Sterling Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Sterling Bancorp (NYSE:STL
Earnings for Sterling Bancorp are expected to grow by 54.46% in the coming year, from $1.01 to $1.56 per share. The P/E ratio of Sterling Bancorp is 8.66, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.72. The P/E ratio of Sterling Bancorp is 8.66, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.30. Sterling Bancorp has a P/B Ratio of 0.57. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.
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