Sterling Bancorp Buyback
OLI recorded this information on 2/28/2020
Company:
Sterling Bancorp
Buyback:
STL buyback
Share Amount Authorized:
20,000,000
Buyback Details:
Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that the Board of Directors approved a new authorization for the repurchase of up to an additional 20,000,000 of the company's outstanding common stock. The repurchases will be made in the open market or through privately negotiated transactions, over time, depending on market conditions. The stock repurchase program may be modified, extended or terminated at any time by the Board of Directors. Sterling Bancorp had approximately 198.0 million shares of common stock outstanding as of February 27, 2020, per the company's annual report on Form 10-K for the year ended December 31, 2019.
Sterling Bancorp is a bank holding company and financial holding company. Through its subsidiary, Sterling National Bank (the Bank), Co. provides a line of commercial, business, and consumer banking products and services. Co. conducts substantially all of its operations through the Bank. The Bank's principal business is accepting deposits and, together with funds generated from operations and borrowings, investing in various types of loans and securities. The Bank also operates its commercial finance businesses, which target markets across U.S. and includes asset-based lending, payroll financing, factoring, warehouse lending, equipment financing, and public sector financing.
Preferred: STL.PRA
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Avg. Broker Rec.
 
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Buy (3.17 out of 4) 94th percentile
(ranked higher than approx. 94% of all stocks covered)
Analysts' Target Price: STL Stock Forecast Based on Zacks ABR data; powered by Xignite |
