Sterling Bancorp (NYSE:STL) provider of financial products and services, is reporting second quarter earnings results on Wednesday 22nd July 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.30 per share.
For the full year, analysts predict revenues of $ 867.86 million, while looking forward to income of $ 1.17 per share.
Previous Quarter Performance
Sterling Bancorp came out with loss for the first quarter of $ 0.02 per share, from the revenue of $ 211.77 million. The quarterly revenues decreased 11.56 percent compared with the same quarter last year. According to street consensus, STL was expected to report 1Q20 income of $ 0.42 per share from revenue of $ 221.75 million. The bottom line results missed street analysts by $ 0.44 or 104.76 percent, at the same time, top line results fell short of analysts by $ 9.98 million or 4.5 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of STL was $ 11.42, representing a 62.91 % increase from the 52 week low of $ 7.01 and a 48.49 % decrease over the 52 week high of $ 22.17.
The company has a market capital of $ 2.22 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 18th June 2020, maintained by Citigroup at Neutral rating, with $ 14.00 target price.
Recent Stock Dividend Announcement
On April 27, 2020, the board of directors authorized quarterly dividend of $ 0.07 per share to holders of record as of the close of business on May 8, 2020, with payment date of May 22, 2020 and ex-dividend date on May 7, 2020.
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds. It originates various loans that comprise residential and commercial mortgage loans; commercial and industrial, asset-based, payroll finance, warehouse, factored receivables, equipment finance, public sector, and commercial real estate and multi-family loans; consumer loans, such as homeowner loans, home equity lines of credit, new and used automobile loans, and personal unsecured loans; and acquisition, development, and construction loans.
