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1. Company Snapshot

1.a. Company Description

Sterling Bancorp, Inc.(Southfield, MI) operates as the unitary thrift holding company for Sterling Bank and Trust, F.S.B. that provides community banking services to individuals and businesses.It offers checking, savings, and money market accounts, as well as IRAs and certificates of deposit; and one- to four-family residential, commercial, commercial real estate, construction, and consumer loans, as well as commercial lines of credit.


The company also provides retail banking services.It operates through a network of 28 branches in San Francisco and Los Angeles, California; New York, New York; and Southfield, Michigan.The company was founded in 1984 and is headquartered in Southfield, Michigan.

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1.b. Last Insights on SBT

Recent negative drivers behind Sterling Bancorp's performance include the proposed merger with EverBank Financial Corp, which has led to shareholder investigation and potential class action lawsuits. On October 24 and 22, 2024, Monteverde & Associates PC announced investigations into the merger, citing potential issues with the all-cash transaction. Additionally, on December 18, 2024, Sterling Bancorp announced shareholder approval of the sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp, as well as the Plan of Dissolution approved by the board of directors on September 15, 2024. These developments may have contributed to uncertainty and negative sentiment surrounding the company.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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InventHelp Inventor Develops New Dock Line System (SBT-2063)

Nov -04

Source: prnewswire.com

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Sterling Bancorp Announces Declaration of Initial Liquidating Distribution; Stock Transfer Books Closed; Mr. Thomas M. O'Brien Steps Down as Chairman, President and Chief Executive Officer

Apr -01

Source: businesswire.com

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Sterling Bancorp Announces Closing of Acquisition of Sterling Bank and Trust, F.S.B. by EverBank Financial Corp; Certificate of Dissolution to be Filed and Common Stock to be Delisted

Mar -31

Source: businesswire.com

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Federal Reserve Board Approves the Acquisition of Sterling Bank and Trust, F.S.B. by EverBank Financial Corp

Mar -14

Source: businesswire.com

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Sterling Bancorp Announces Shareholder Approval of Sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp and Approval of Plan of Dissolution

Dec -18

Source: businesswire.com

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STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Sterling Bancorp, Inc.– SBT

Oct -24

Source: globenewswire.com

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STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Sterling Bancorp, Inc.- SBT

Oct -22

Source: prnewswire.com

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STERLING BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Sterling Bancorp, Inc. - SBT

Sep -18

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.77%)

6. Segments

Community Banking

Expected Growth: 4.77%

Sterling Bancorp's 4.77% community banking growth is driven by strategic branch expansion, increased commercial lending, and a strong deposit base. Effective cost management, improved operating efficiency, and a favorable interest rate environment also contribute to this growth. Additionally, the bank's focus on customer relationships, digital banking capabilities, and community involvement have enhanced its competitive position.

7. Detailed Products

Commercial Lending

Sterling Bancorp offers a range of commercial lending products, including term loans, lines of credit, and construction loans, to help businesses achieve their goals.

Cash Management

Sterling Bancorp's cash management services help businesses manage their cash flow, optimize liquidity, and reduce financial risk.

Treasury Management

Sterling Bancorp's treasury management services help businesses optimize their treasury operations, manage risk, and improve financial performance.

Investment and Insurance Services

Sterling Bancorp offers a range of investment and insurance products, including brokerage services, retirement plans, and insurance solutions, to help individuals and businesses achieve their financial goals.

Private Banking

Sterling Bancorp's private banking services provide personalized financial solutions, including wealth management, trust services, and customized lending, to high net worth individuals and families.

Mortgage Lending

Sterling Bancorp offers a range of mortgage lending products, including residential and commercial mortgages, to help individuals and businesses achieve their real estate goals.

8. Sterling Bancorp, Inc. (Southfield, MI)'s Porter Forces

Forces Ranking

Threat Of Substitutes

Sterling Bancorp, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the complexity and specialization of banking services.

Bargaining Power Of Customers

Customers have some bargaining power due to the availability of alternative banking services, but Sterling Bancorp, Inc.'s strong brand and customer relationships mitigate this power.

Bargaining Power Of Suppliers

Suppliers of banking services have limited bargaining power due to the competitive nature of the industry and the availability of alternative suppliers.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the banking industry, including regulatory hurdles and capital requirements.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 14.15%
Debt Cost 6.86%
Equity Weight 85.85%
Equity Cost 6.86%
WACC 6.86%
Leverage 16.48%

11. Quality Control: Sterling Bancorp, Inc. (Southfield, MI) passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 4.9/10

Value: 4.2

Growth: 2.6

Quality: 6.1

Yield: 5.0

Momentum: 6.0

Volatility: 5.7

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.97$

Current Price

4.84$

Potential

23.25%

Expected Cash-Flows