Recap: Sterling Bancorp Q2 Earnings

Shares of Sterling Bancorp STL rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 79.31% year over year to $0.52, which beat the estimate of $0.50.

Revenue of $218,527,000 higher by 2.45% from the same period last year, which missed the estimate of $221,640,000.

Looking Ahead

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

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

Price Action

52-week high: $27.22

52-week low: $9.83

Price action over last quarter: down 4.26%

Company Profile

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.