How Will Sterling Bancorp (STL) Stock React To New Rating Coverage byCitigroup?

June 18, 2018 - By Clifton Ray

Investors sentiment decreased to 1.25 in Q1 2018. Its down 1.22, from 2.47 in 2017Q4. It is negative, as 29 investors sold Sterling Bancorp shares while 76 reduced holdings. 37 funds opened positions while 94 raised stakes. 199.99 million shares or 3.63% more from 192.99 million shares in 2017Q4 were reported.

Moreover, Oregon Employees Retirement Fund has 0.03% invested in Sterling Bancorp (NYSE:STL). Farmers & Merchants Investments reported 0% stake. Clover Ptnrs Ltd Partnership owns 135,000 shares or 3.39% of their US portfolio. Cubist Systematic Strategies Lc has 0.03% invested in Sterling Bancorp (NYSE:STL) for 20,614 shares. Legal And General Group Public Ltd Company reported 222,991 shares. Pier Ltd holds 1.02% or 264,093 shares in its portfolio. Liberty Mutual Group Inc Asset Inc invested in 0.03% or 44,256 shares. Geode Capital Mngmt Ltd reported 1.90M shares or 0.01% of all its holdings. 61,900 were accumulated by New Mexico Educational Retirement Board. Swiss State Bank stated it has 375,464 shares. 104,211 are owned by Price T Rowe Assoc Md. Pnc Fin Services Grp has 0% invested in Sterling Bancorp (NYSE:STL) for 156,307 shares. Parametric Associate Ltd Liability Corporation reported 539,630 shares. Credit Suisse Ag owns 0% invested in Sterling Bancorp (NYSE:STL) for 175,604 shares. Hsbc Holdings Public Ltd Company invested in 9,810 shares or 0% of the stock.

Why Has Citigroup Given Sterling Bancorp (STL) a $27.0 Price Target

Citigroup shared with investors in a recent report that it started coverage on Sterling Bancorp (STL) stock, with Neutral rating and a $27.0 target price.

The stock decreased 1.02% or $0.25 during the last trading session, reaching $24.25. About 1.48 million shares traded. Sterling Bancorp (STL) has risen 13.41% since June 18, 2017 and is uptrending. It has outperformed by 0.84% the S&P500.

Analysts await Sterling Bancorp (NYSE:STL) to report earnings on July, 24. They expect $0.48 earnings per share, up 45.45 % or $0.15 from last year’s $0.33 per share. STL’s profit will be $108.23M for 12.63 P/E if the $0.48 EPS becomes a reality. After $0.45 actual earnings per share reported by Sterling Bancorp for the previous quarter, Wall Street now forecasts 6.67 % EPS growth.

Sterling Bancorp operates as the bank holding firm for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company has market cap of $5.47 billion. The firm accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds. It has a 29.32 P/E ratio. It originates various loans that comprise residential and commercial mortgage loans; commercial and industrial, asset-based, payroll finance, warehouse, factored receivables, equipment finance, public sector, and commercial real estate and multi-family loans; consumer loans, such as homeowner loans, home equity lines of credit, new and used automobile loans, and personal unsecured loans; and acquisition, development, and construction loans.

More news for Sterling Bancorp (NYSE:STL) were recently published by: Globenewswire.com, which released: “Sterling National Bank is Proud to be Lead Sponsor of July 4th Fireworks at Jones Beach” on June 13, 2018. Seekingalpha.com‘s article titled: “Sterling Bancorp: Strong Fundamentals Underpin 40% Upside” and published on May 22, 2018 is yet another important article.

Sterling Bancorp (NYSE:STL) Ratings Chart

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