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Sterling Bancorp (SBT)
NASDAQ:SBT
Earnings Data
Report Date
Feb 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.1Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2018
|% Change Since: -1.24%
|Next Earnings Date:Jul 30, 2018
Earnings Call Sentiment|Neutral
The call indicates a mixed outlook for Sterling Bancorp. The closure of investigations and strong capital positions are positive, but the breakeven financial performance and high cost of liquidity present challenges. The sentiment is balanced between positive strategic moves and ongoing financial hurdles.Company Guidance
During the Q2 2024 earnings call, Sterling Bancorp provided guidance highlighting several key metrics and areas of focus. The company is currently operating at a breakeven level, with capital and liquidity remaining strong. A significant milestone was the maturity of their last wholesale funding, specifically a $50 million Home Loan Bank advance, marking a shift towards reliance solely on core deposit funding. Expenses are trending in the right direction due to cost-cutting measures and the conclusion of investigations that began in 2019, with about $1.3 million of the $2.1 million professional fees attributed to legal costs. The company anticipates legal and compliance costs to average around $1.8 million in the coming quarters. Additionally, Sterling Bancorp continues to focus on protecting the book value and balance sheet integrity while exploring commercial loan opportunities, although it has no plans to originate residential loans. The bank's asset quality remains strong, with credit conditions staying mild and reserve levels healthy. Management expects that potential interest rate cuts later in 2024 could positively impact margins by reducing the cost of liabilities.Closure of Investigations
The Department of Justice has closed its investigation, ending several years of costly legal and compliance expenses for Sterling Bancorp.
Strong Capital and Liquidity
Sterling Bancorp continues to maintain strong capital and liquidity positions, with expenses trending in the right direction due to cost-cutting measures.
End of Wholesale Funding
The final maturity of a $50 million Home Loan Bank advance marks the end of the company's reliance on wholesale funding, transitioning to core deposit funding.
Stable Credit Conditions
Credit conditions remain favorable with healthy reserve levels and minimal delinquencies, especially in the commercial portfolio.
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SBT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SBT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 30, 2025 | $4.84 | $4.84 | 0.00% |
| Oct 30, 2024 | $4.78 | $4.68 | -2.09% |
| Jul 24, 2024 | $5.80 | $5.79 | -0.17% |
| Apr 24, 2024 | $4.91 | $4.82 | -1.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Sterling Bancorp (SBT) report earnings?
Sterling Bancorp (SBT) is schdueled to report earning on Feb 03, 2025, TBA Not Confirmed.
What is Sterling Bancorp (SBT) earnings time?
Sterling Bancorp (SBT) earnings time is at Feb 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBT EPS forecast?
Currently, no data Available
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