Keefe Bruyette & Woods Maintains Sterling Bancorp to Outperform with Price Target $19.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Sterling Bancorp(NYSE:STL). In a research note issued to the investors, the brokerage major Raises the price-target to $19.00 per share. The shares have been rated Outperform. The rating by Keefe Bruyette & Woods was issued on Jul 28, 2016.

In a different note, Maxim Group said it Initiates Coverage on Sterling Bancorp, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Buy’ by the firm.

Sterling Bancorp (STL) made into the market gainers list on Thursdays trading session with the shares advancing 0.18% or 0.03 points. Due to strong positive momentum, the stock ended at $16.87, which is also near the day’s high of $16.95. The stock began the session at $16.82 and the volume stood at 4,28,302 shares. The 52-week high of the shares is $17.75 and the 52 week low is $13.2. The company has a current market capitalization of $2,203 M and it has 13,05,82,909 shares in outstanding.

Sterling Bancorp(STL) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $0.27.

Several Insider Transactions has been reported to the SEC. On May 24, 2016, Craig S Thompson (director) sold 2,500 shares at $15.88 per share price.Also, On May 10, 2016, Richard L. O’toole (director) purchased 1,000 shares at $15.77 per share price.On Apr 29, 2016, James P Blose (General Counsel and CLO) sold 7,500 shares at $16.61 per share price, according to the Form-4 filing with the securities and exchange commission.

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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