Sterling Bancorp Q2 EPS $0.05 Beats $0.03 Estimate, Sales $18.09M Beat $17.86M Estimate
Portfolio Pulse from Benzinga Newsdesk
Sterling Bancorp (NASDAQ:SBT) reported Q2 earnings of $0.05 per share, beating the analyst consensus estimate of $0.03 by 66.67%. This is a 225% increase from the same period last year. The company also reported quarterly sales of $18.09 million, beating the analyst consensus estimate of $17.86 million by 1.32%, but a 7.28% decrease from the same period last year.
July 26, 2023 | 11:58 am
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Sterling Bancorp's Q2 earnings and sales beat estimates, which could positively impact its stock price in the short term. However, the decrease in sales compared to last year might temper this impact.
Sterling Bancorp's Q2 earnings and sales exceeded analyst estimates, which is typically a positive signal for investors and can lead to a short-term increase in the stock price. However, the year-over-year decrease in sales could be a concern for some investors, potentially tempering the positive impact of the earnings beat.
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