Sterling Bancorp: Q3 Earnings Insights

Shares of Sterling Bancorp STL were flat in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 13.46% over the past year to $0.45, which beat the estimate of $0.39.

Revenue of $217,824,000 decreased by 2.46% from the same period last year, which missed the estimate of $219,130,000.

Outlook

Sterling Bancorp hasn't issued any earnings guidance for the time being.

Sterling Bancorp hasn't issued any revenue guidance for the time being.

Recent Stock Performance

52-week high: $21.63

52-week low: $7.00

Price action over last quarter: Up 6.15%

Company Overview

Sterling Bancorp is a financial and bank holding company that operates primarily through its wholly owned subsidiary, Sterling National Bank. Sterling National Bank is a full-service regional bank that primarily delivers products and services to small and middle market commercial businesses and affluent consumers. Those products and services include deposit, lending, and wealth management products. The bank's strategy emphasizes growth, efficiency, and relationship building with its niche target market. It primarily operates in the New York metropolitan and suburban markets. Nearly all of its loan portfolio is in commercial loans, a plurality of which is in commercial real estate, followed by traditional commercial and industrial loans.