Sterling Bancorp (STL)

samstevens (58.14) Submitted: 11/3/2009 7:58:44 PM : Start Price: $6.65 STL Score: -3.46

its pretty much at its 52 week low right now, for no real reason. Its just so low, i dont really know much about the company but other people seem to say their balance sheet is at least average so... why not?

TSIF (98.75) Submitted: 10/26/2009 10:57:09 AM : Start Price: $7.12 STL Score: -7.57

Banks are not generally on my shopping list right now, but I was researching the lows that Sterling Financial Corporation(NasdaqGS: STSA) had reached and noted a press release that Sterling Bancorp (STL) was not associated with STSA. I knew that, but I wondered how many other investors had doubts. Sterling Bancorp stock is pushing new lows despite having a fairly decent balance sheet. As a lending center based in New York City Sterling Bancorp could have some hidden negatives in their loan portfolio that may still surface, but overall, they appear to be fairly conservative and holding their own. Margins, (on paper, again who know with a bank during this recession), appear healthy at +11% profit and +19% operating margins. Cash flow and income are weak, but holding and Sterling Bancorp is currently holding it's 5% dividends. Risky? Yes, but at the current $7 share price it appears to me to have some potential.

Saveitok (< 20) Submitted: 9/18/2009 4:23:28 AM : Start Price: $8.01 STL Score: -19.18

just a hunch

BetapegLLC (92.20) Submitted: 9/17/2009 2:43:46 PM : Start Price: $7.55 STL Score: -17.80

Sterling Bancorp (NYSE: STL) is a New York-based banking and financial services company with assets exceeding $2.2 billion. Sterling has suffered along with the financial sector in the sub-prime financial crisis. The Company has differentiated itself from failed titans such as Citigroup with their conservative approach to banking. The Bank’s financial services revolve around 3 strategies which are personal attention for customers, direct access to executives, and a diversified portfolio of services. This has allowed the Company to maintain a strong capital base allowing Sterling to weather the financial storm. Demand deposits accounted for 36% of total deposits indicating the Bank to be one of the best capitalized in the industry. The Company has gained further liquidity by participating in the U.S. Treasury’s Capital Purchase Program allowing Sterling to increase its loan portfolio by 7%. Sales and profits have increased a conservative 26% and -45% respectively. The decline in profit can be attributable to the sub-prime financial crisis which has affected even the best banks. Despite the recession, this Company has remained profitable showing improvement in profits of 49% since 2006. The PE, PS, and PB ratios indicate Sterling to be substantially undervalued. Sterling is valued at $13.78 for FY2009. With a current price of $7.61 (September 10, 2009), Sterling is 81% undervalued for the fiscal year giving it a high margin of safety. The Company has a reasonable earnings yield and profit margin of 8% and 10% respectively. Current profit levels would enable Sterling to pay off all long-term debt within 3 years on profit alone indicating good liquidity levels. The Company’s beta of .73 indicates the stock is 27% less volatile than the market. The stock can be expected to remain flat or go lower short term. Sterling has outperformed 19% of the market in the last 12 months indicating the stock to be highly undervalued relative to its fundamentals grade. This indicates the stock will be higher long term. Risks include loan defaults, credit contractions, falling asset values, and macro-economic risks to the financial system.

http://www.betapeg.com/stock_picks__reports

EclecticRecluse (75.28) Submitted: 8/31/2009 5:12:59 PM : Start Price: $7.42 STL Score: +18.29

Poor Stock with High Payout Ratio

herbs814 (39.67) Submitted: 8/24/2009 1:40:34 PM : Start Price: $8.40 STL Score: +27.76

NY bank with falling revenue and falling earnings...
still overvalued (p/e) relative peers.

cut dividends (less than some peers)...
did they conserve enough?

NY/NJ/CT have higher taxes and slower growth

debt/cash > 12x
cash/equity lower than peers (STI, JPM, C, BAC)