Sterling Bancorp (NYSE:STL) is reporting third quarter financial results on Wednesday 21st October 2020, after market close.
According to analysts surveyed by Thomson Reuters, STL is expected to report 3Q20 income of $ 0.39 per share from revenue of $ 219.13 million.
For the full year, analysts anticipate top line of $ 868.83 million, while looking forward to income of $ 1.09 per share bottom line.
Previous Quarter Performance
Sterling Bancorp communicated income for the second quarter of $ 0.29 per share, from the revenue of $ 213.30 million. The quarterly earnings fell 43.14 percent while revenues shrunk 9.49 percent compared with the same quarter last year.
According to street consensus, STL was expected to report 2Q20 income of $ 0.30 per share from revenue of $ 213.92 million. The bottom line results missed street analysts by $ 0.01 or 3.33 percent, at the same time, top line results fell short of analysts by $ 0.62 million or 0.29 percent.
Stock Performance
Shares of Sterling Bancorp traded up $ 0.22 or 1.82 percent on Tuesday, reaching $ 12.29 with volume of 2.55 million shares. Sterling Bancorp has traded high as $ 12.66 and has cracked $ 12.16 on the downward trend
The closing price of $ 12.29, representing a 72.18 % increase from the 52 week low of $ 7.01 and a 44.2 % decrease over the 52 week high of $ 21.63.
The company has a market capital of $ 2.39 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.07 per share on July 22, 2020. The dividend were payable on August 17, 2020 to holders of record as of the close of business on August 3, 2020 and ex-dividend date on July 31, 2020.
Conference Call
Sterling Bancorp will be hosting a conference call at 8:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.sterlingbancorp.com
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.
