Sterling Bancorp: 2Q Earnings Snapshot
Jul. 24, 2018
MONTEBELLO, N.Y. (AP) _ Sterling Bancorp (STL) on Tuesday reported second-quarter earnings of $112.2 million.
The bank, based in Montebello, New York, said it had earnings of 50 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The bank holding company posted revenue of $342.8 million in the period. Its revenue net of interest expense was $284.1 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $270 million.
Sterling Bancorp shares have fallen 6.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23, a climb of slightly more than 1 percent in the last 12 months.