Sterling Bancorp (STL) Receives Analyst Rating

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) stock is expected to deviate a maximum of $1.02 from the average target price of $19.42 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $21 and the most muted being $18.


Also, Major Brokerage house, Keefe Bruyette & Woods maintains its ratings on Sterling Bancorp (NYSE:STL). In the latest research report, Keefe Bruyette & Woods raises the target price from $18 per share to $19 per share. According to the latest information available, the shares are now rated Outperform by the analysts at the agency. The rating by the firm was issued on July 28, 2016.

Sterling Bancorp (NYSE:STL): After opening at $17.09, the stock dipped to an intraday low of $16.981 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $17.26 and the buying power remained strong till the end. The stock closed at $17.2 for the day, a gain of 0.41% for the day session. The total traded volume was 682,191. The stocks close on the previous trading day was $17.13.

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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