Revenue Update on Sterling Bancorp(NYSE:STL)

Sterling Bancorp(NYSE:STL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Earnings per share were $0.27.

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) shares turned negative on Fridays trading session with the shares closing down -0.09 points or -0.53% at a volume of 4,88,718. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.095. The peak price level was also seen at $17.095 while the days lowest was $16.86. Finally the shares closed at $16.89. The 52-week high of the shares is $17.75 while the 52-week low is $13.2. According to the latest information available, the market cap of the company is $2,206 M.

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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