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STL $26.29

STL target price
26.29
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Sterling Bancorp
Type
Public
Traded as
  • NYSE: STL
  • S&P 400 component
Industry Financial services
Founded 1888
Headquarters Montebello, NY
Key people
Richard L. O'Toole
(Chairman)
Jack Kopnisky
(President & CEO)
Total assets ≈US$ 30.0 billion (2017)
Website www.sterlingbancorp.com

Sterling Bancorp is a regional bank holding company whose principal subsidiary, Sterling National Bank, provides a full range of banking and financial services to business owners, their families, and consumers, primarily in the greater New York metropolitan and Hudson Valley regions. Sterling Bancorp had assets of approximately $30 billion at October 2, 2017, following its acquisition of Astoria Financial Corp. Headquartered in Montebello, New York, Sterling Bancorp's shares are traded on the New York Stock Exchange.

The entity now known as Sterling was founded in 1888 under the name Provident Bank. It later became a subsidiary of Provident New York Bancorp.

On August 10, 2012, the company acquired Gotham Bank of New York, which enabled the company to expand into the New York City marketplace.

On October 31, 2013, the company acquired Sterling Bancorp through a merger. Provident changed its legal name to Sterling Bancorp and the name of its principal banking subsidiary to Sterling National Bank. The merger was intended to create a larger, more diversified company with a broader range of products and services for small-to-middle market commercial clients and consumers.

On June 30, 2015, Sterling completed the acquisition of Hudson Valley Holding Corp., which further expanded its presence in the greater New York Metropolitan region.

The company also made smaller acquisitions to add specialized products and services, most recently including Damian Services Corp., a payroll financing business (acquired March 2, 2015), and a factoring portfolio from First Capital Corp. (acquired May 18, 2015).

Its acquisition of Astoria Bank closed at the start of October 2017.

Through these acquisitions Sterling has expanded its range of services and market presence while providing opportunities for cost efficiencies and higher revenues and earnings.

The company is pursuing a strategy of becoming a high-performing banking institution with a focus on serving small to middle market commercial businesses and affluent consumers. The bank believes this client segment is frequently underserved by larger bank competitors in its market area. Sterling employs a team-based strategy in which each client is served by relationship team that provides a single point of contact for delivering the bank’s products and services and manages all aspects of the client relationship.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2022 2022-04-18 Future report Set alerts
Q4 2021 2022-01-19 0.57 0.57
Q3 2021 2021-10-20 0.49 0.49
Q2 2021 2021-07-21 0.50 0.50
Q1 2021 2021-04-19 0.51 0.51
Q3 2020 2020-10-21 0.00 0.00
Q2 2020 2020-07-22 0.29 0.25
Q1 2020 2020-04-27 -0.02 0.06
Q4 2019 2020-01-22 0.54 0.52
Q3 2019 2019-10-23 0.52 0.59

Ratings

2016-07-07 Reiterated Rating Jefferies Group Buy $18.50
2016-06-22 Initiated Coverage Maxim Group Buy $19.00
2015-11-16 Reiterated Rating Jefferies Group Buy $18.00 to $18.50
2015-09-30 Initiated Coverage RBC Capital Outperform $18.00
2015-09-30 Initiated Coverage Royal Bank Of Canada Outperform $18.00
2015-07-31 Reiterated Rating Keefe, Bruyette & Woods Hold $15.50 to $17.00
2015-07-02 Boost Price Target Jefferies Group $15.50 to $18.00
2015-06-05 Initiated Coverage Piper Jaffray Overweight $15.00
2015-06-05 Initiated Coverage Piper Jaffray Cos. Overweight $15.00
2015-03-12 Downgrade Guggenheim Buy to Neutral
2015-01-16 Reiterated Rating Keefe, Bruyette & Woods Outperform $15.50
2014-07-31 Boost Price Target Jefferies Group $14.00 to $15.00
2014-07-11 Initiated Coverage Jefferies Group Buy $14.00
2014-07-03 Initiated Coverage Raymond James Outperform $14.00
2014-07-03 Initiated Coverage Raymond James Financial Inc. Outperform $14.00
2014-06-06 Initiated Coverage Guggenheim Buy $14.00
2011-08-22 Downgrade Stifel Nicolaus Buy to Hold
2010-03-17 Upgrade BMO Capital Markets Market Perform to Outperform
2009-06-17 Upgrade Stifel Nicolaus Sell to Hold
2009-02-10 Reiterated Janney Mntgmy Scott Neutral $15 to $12
2007-11-06 Downgrade Keefe Bruyette Outperform to Mkt Perform
2007-06-27 Upgrade Ferris Baker Watts Sell to Neutral $15.25
2007-05-07 Downgrade Ferris Baker Watts Neutral to Sell $15.25
2007-02-13 Reiterated Cohen Bros Hold $20 to $19
2016-07-07 Reiterated Rating Jefferies Group Buy $18.50
2016-06-22 Initiated Coverage Maxim Group Buy $19.00
2015-11-16 Reiterated Rating Jefferies Group Buy $18.00 to $18.50
2015-09-30 Initiated Coverage RBC Capital Outperform $18.00
2015-09-30 Initiated Coverage Royal Bank Of Canada Outperform $18.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
CAPPELLI LOUIS J Chairman and CEO 2.45%  (759899) STL /
MILLMAN JOHN C President 1.02%  (316582) STL /
Klein James B 0.27%  (82241) STL /
TIETJEN JOHN W EVP and CFO 0.24%  (75771) STL /
APPLEBAUM HOWARD M Senior Vice President 0.15%  (45145) STL /
ABRAMS ROBERT 0.13%  (39455) STL /
Robinson Eliot S Exec VP Sterling National Bank 0.11%  (34556) STL /
HERSHFIELD ALLAN F 0.07%  (22838) STL /
HUMPHREYS HENRY J 0.07%  (22831) STL /
ADAMKO JOSEPH M 0.05%  (15306) STL /
FERRER FERNANDO 0.05%  (14498) STL /
FELDESMAN WALTER 0.04%  (11091) STL /
ROSSIDES EUGENE T 0.03%  (8095) STL /
Lee Carolyn Joy 0.03%  (8059) STL /
Lazar Robert W 0.02%  (7676) STL /
Fredston Dale C SVP & Corporate Secretary 0.01%  (2240) STL /