Brokerage Firm Rating Update on Sterling Bancorp (STL)

Sterling Bancorp (STL) : 4 brokerage houses believe that Sterling Bancorp (STL) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 6 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.33.

Sterling Bancorp (STL) : The highest short term price target forecast on Sterling Bancorp (STL) is $21 and the lowest target price is $18. A total of 6 equity analysts are currently covering the company. The average price of all the analysts is $19.42 with a standard deviation of $1.02.


Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Keefe Bruyette & Woods maintains its rating on Sterling Bancorp (NYSE:STL).The analysts at the brokerage house have a current rating of Outperform on the shares. In a recent information released to the investors, Keefe Bruyette & Woods raises the new price target from $18 per share to $19 per share. The rating by the firm was issued on July 28, 2016.

Sterling Bancorp (NYSE:STL): The stock opened at $17.46 and touched an intraday high of $17.68 on Wednesday. During the day, the stock corrected to an intraday low of $17.44, however, the bulls stepped in and pushed the price higher to close in the green at $17.68 with a gain of 0.91% for the day. The total traded volume for the day was 683,738. The stock had closed at $17.52 in the previous trading session.

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.

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