In today’s recent session, 3,523,963 shares of the Sterling Bancorp(NYSE:STL) have been traded, and its beta is 1.71. Most recently the company’s share price was $23.13, and it changed around -$0.05 or 0% from the last close, which brings the market valuation of the company to $4.47 Billion. STL at last check was trading at a discount to its 52-week high of $26.37, offering almost -14.01% off that amount. The share price’s 52-week low was $8.99, which indicates that the recent value has risen by an impressive 61.13% since then. We note from Sterling Bancorp’s average daily trading volume that its 10-day average is 5.45 Million shares, with the 3-month average coming to 3.94 Million.
Sterling Bancorp stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 13 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended STL as a Hold, whereas 12 deemed it a Buy, and no one rated it as Underweight. Sterling Bancorp is expected to report earnings per share of $0.45 for the current quarter.
Sterling Bancorp (NYSE:STL): Trading Information Today
Although STL has been showing red trend so far today with a performance of -0.22% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $23.93 on Monday, Apr 05 increased the stock’s daily price by 3.38%. The company’s shares are currently up 0.29% year-to-date, but still down -0.0115 over the last five days. On the other hand, Sterling Bancorp (NYSE:STL) is 0.02% up in the 30-day period. We can see from the shorts that 9.22 Million shares have been sold at a short interest cover period of 2.34 day(s).
The consensus price target as assigned by Wall Street analysts is $25.96, which translates to bears needing to increase their stock price by 12.24% from its current value. Analyst projections state that STL is forecast to be at a low of $21 and a high of $33.5. In order for the stock price to hit the forecast high, the stock would need to surge +44.83% from its current level, while the stock would need to crash -9.21% from its current level to reach the projected low.
Sterling Bancorp (STL) projections and forecasts
Sterling Bancorp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +107.71 percent over the past six months and at a 58.33% annual growth rate that is well above the industry average of 13.2%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +2350% in revenue this quarter, and will report an increase of 55.2% in the next quarter. The year-over-year growth rate is expected to be 3%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $225.11 Million in revenue for the current quarter. 9 analysts expect Sterling Bancorp to make $224.92 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $215.23 Million and $216.71 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 4.6%. Forecasts for the next quarter put sales growth at 3.8%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 13.3%. Sterling Bancorp earnings are expected to decrease by -44.9% in 2021, but the outlook is positive 5% per year for the next five years.
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STL Dividend Yield
Sterling Bancorp’s next quarterly earnings report is expected to be released around April 26 – April 30, 2021. The annual dividend yield of the stock is 1.21 percent and its annual dividend per share was $0.28. It is important to note, however, that the 1.21% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.5% per year.
Sterling Bancorp (NYSE:STL)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.96% of Sterling Bancorp shares, and 86.91% of them are in the hands of institutional investors. The stock currently has a share float of 87.75%. Sterling Bancorp stock is held by 398 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2020, it held 9.04% of the shares, which is about 17.49 Million shares worth $314.44 Million.
Blackrock Inc., with 8.29% or 16.04 Million shares worth $288.34 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Dec 30, 2020. The former held 5528753 shares worth $99.41 Million, making up 2.86% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 5.12 Million shares worth around $111.68 Million, which represents about 2.64% of the total shares outstanding.