Analyst Rating Update on Sterling Bancorp (STL)

Sterling Bancorp (NYSE:STL) has an average broker rating of 1.5, which is interpreted as a Strong Buy, as rated by 4 equity analysts. Nonetheless, 2 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Sterling Bancorp (NYSE:STL) : The most positive equity analysts on Sterling Bancorp (NYSE:STL) expects the shares to touch $19, whereas, the least positive believes that the stock will trade at $18 in the short term. The company is covered by 4 Wall Street Brokerage Firms. The average price target for shares are $18.25 with an expected fluctuation of $0.65 from the mean.

Company shares have received an average consensus rating of Hold for the current week Also, Maxim Group initiates coverage on Sterling Bancorp (NYSE:STL).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Maxim Group announces the price target of $19 per share. The rating by the firm was issued on June 23, 2016.

Sterling Bancorp (NYSE:STL): stock turned positive on Tuesday. Though the stock opened at $14.89, the bulls momentum made the stock top out at $15.04 level for the day. The stock recorded a low of $14.64 and closed the trading day at $15.01, in the green by 2.67%. The total traded volume for the day was 1,144,103. The stock had closed at $14.62 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Sterling Bancorp, Thompson Craig S had sold 2,500 shares worth of $39,700 in a transaction dated May 23, 2016. In this transaction, 2,500 shares were sold at $15.88 per share.

Sterling Bancorp, formerly Provident New York Bancorp, is a holding company. The Company operates through its subsidiary, Sterling National Bank (SNB), which specializes in the delivery of service and solutions to business owners, their families, and consumers. SNB offers a range of commercial, business, and consumer banking products and services. The Bank primarily originates commercial real estate loans, and commercial and industrial loans. It also originates residential mortgage loans and consumer loans such as home equity lines of credit, homeowner loans and personal loans in market area. The Bank invests in government and agency securities, State and municipal securities, equities and mortgage-backed securities. SNB offers a range of deposit accounts with a range of interest rates and terms. As of September 30, 2014, the Company had over $7.3 billion in assets.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.