On 04 Feb 2020, Sterling Bancorp (NYSE: STL) spotted trading -7.35% off 52-week high price. On the other end, the stock has been noted 16.94% away from the low price over the last 52-weeks. The stock changed 1.68% to recent value of $20.54. The stock transacted 1126413 shares during most recent day however it has an average volume of 1253.3K shares. The company has 203.52M of outstanding shares and 195.25M shares were floated in the market.
Sterling Bancorp (STL) recently reported results for the three and twelve months ended December 31, 2019. Net income accessible to ordinary stockholders for the quarter ended December 31, 2019 was $104.7M, or $0.52 per diluted share, contrast to net income accessible to ordinary stockholders of $120.5M, or $0.59 per diluted share, for the linked quarter ended September 30, 2019, and net income accessible to ordinary stockholders of $112.5M, or $0.51 per diluted share, for the three months ended December 31, 2018.
Net income accessible to ordinary stockholders for the year ended December 31, 2019 was $419.1M, or $2.03 per diluted share, contrast to net income accessible to ordinary stockholders of $439.3M, or $1.95 per diluted share, for the year ended December 31, 2018.
“The low interest rate environment and flat yield curve continued to pressure our interest earning asset and loan origination yields, as our tax equivalent yield not including accretion income on purchased loans was 3.13% in the fourth quarter of 2019 contrast to 3.15% for the linked quarter. Our net interest margin was influenced by higher average cash balances in the fourth quarter, which increased by $269.0M relative to the linked quarter and were a result of funding needs for the acquisition of the equipment finance loan and lease portfolio. We estimate the higher cash balances negatively influenced our net interest margin by about four basis points. Although net interest margin reduced, our growth, asset mix and funding composition allowed us to grow net interest income by $4.9M in the fourth quarter of 2019 relative to the linked quarter.
“We continue to maintain strong controls over operating expenses. During the fourth quarter of 2019, we consolidated five financial centers, bringing our total to 24 financial centers consolidated in 2019. Our financial center count was 82 at December 31, 2019, and we anticipate our total financial centers will decrease below 80 in 2020. In the fourth quarter of 2019, our annualized adjusted operating expenses were $418.7M and our adjusted operating efficiency ratio was 39.9%.
“We constantly evaluate alternatives to increase our operational efficiency and effectiveness. To that end, we executed several corporate actions during the quarter. First, we completed the issuance of $275.0M of subordinated notes that will be used in part to redeem the senior notes maturing in June 2020 that we assumed in the merger with Astoria Financial Corp. (the “Astoria Merger”). Second, we completed our before reported equipment finance portfolio acquisition with total balances at acquisition of $838.9M in November 2019. This portfolio was integrated into our equipment finance portfolio.
Its earnings per share (EPS) expected to touch remained 135.30% for this year while earning per share for the next 5-years is expected to reach at 5.00%. STL has a gross margin of # ref and an operating margin of 75.90% while its profit margin remained 35.30% for the last 12 months. According to the most recent quarter its current ratio was # ref that represents company’s ability to meet its current financial obligations. The price moved ahead of 0.05% from the mean of 20 days, -0.83% from mean of 50 days SMA and performed 0.50% from mean of 200 days price. Company’s performance for the week was 0.64%, -2.00% for month and YTD performance remained -2.56%.