Sterling Bancorp (NASDAQ:SBT) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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Sterling Bancorp (NASDAQ:SBT) issued its earnings results on Sunday. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03, MarketWatch Earnings reports. Sterling Bancorp had a return on equity of 3.83% and a net margin of 7.67%.

NASDAQ SBT traded down $0.05 during trading on Tuesday, hitting $4.84. 51,564 shares of the company traded hands, compared to its average volume of 63,895. Sterling Bancorp has a 12 month low of $2.61 and a 12 month high of $5.95. The business has a fifty day simple moving average of $5.39 and a 200 day simple moving average of $4.74. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $242.02 million, a P/E ratio of 4.36 and a beta of 0.81.

SBT has been the subject of several recent research reports. TheStreet upgraded Sterling Bancorp from a “d+” rating to a “c-” rating in a report on Wednesday, April 7th. Hovde Group initiated coverage on Sterling Bancorp in a report on Friday, January 29th. They set an “outperform” rating and a $6.00 price objective for the company. Finally, Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Friday.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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Earnings History for Sterling Bancorp (NASDAQ:SBT)

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