KBW Believes STL Won’t Stop Here

By Carrie Williams

KBW analyst Collyn Gilbert reiterated a Buy rating on Sterling Bancorp (NYSE: STL) on March 9 and set a price target of $29. The company’s shares closed last Friday at $24.70, close to its 52-week high of $25.85.

According to TipRanks.com, Gilbert is a 5-star analyst with an average return of 21.2% and a 85.3% success rate. Gilbert covers the Financial sector, focusing on stocks such as The First Of Long Island Corp, Provident Financial Services, and Meridian Interstate Bancorp.

Currently, the analyst consensus on Sterling Bancorp is Strong Buy and the average price target is $28.63, representing a 15.9% upside.

In a report issued on March 8, Maxim Group also reiterated a Buy rating on the stock with a $30 price target.

Based on Sterling Bancorp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $139 million and quarterly net profit of $41 million. In comparison, last year the company earned revenue of $122 million and had a net profit of $32.79 million.

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Sterling Bancorp is banking and financial holding company is engaged in the provision of banking and related financial services and products. It operates as a regional bank offering services such as deposit, lending, and wealth management products to commercial, consumer, and municipal clients within the New York metropolitan area. The company was founded on October 31, 2013 and is headquartered in Montebello, NY.