Stephens Thinks Sterling Bancorp’s Stock is Going to Recover


In a report released yesterday, Austin Nicholas from Stephens maintained a Buy rating on Sterling Bancorp (STL), with a price target of $21. The company’s shares closed yesterday at $16.45, close to its 52-week low of $16.25.

According to TipRanks.com, Nicholas is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.2% and a 20.8% success rate. Nicholas covers the Financial sector, focusing on stocks such as Union Bankshares Corporation, Howard Bancorp, Inc., and Old Line Bancshares.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sterling Bancorp with a $26.79 average price target.

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The company has a one-year high of $26.40 and a one-year low of $16.25. Currently, Sterling Bancorp has an average volume of 2.76M.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of STL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Sterling Bancorp operates as a financial and bank holding company of Sterling National Bank. It offers commercial, business, and consumer banking products and services through its subsidiary. The company was founded in 1888 and is headquartered in Montebello, NY.

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