Yahoo Finance Sterling Bancorp (Southfield MI) Third Quarter 2022 Earnings: Misses Expectations
Sterling Bancorp (Southfield MI) (NASDAQ:SBT) Third Quarter 2022 Results
Key Financial Results
Revenue: US$23.5m (down 3.1% from 3Q 2021).
Net income: US$1.18m (down 88% from 3Q 2021).
Profit margin: 5.0% (down from 39% in 3Q 2021).
EPS: US$0.023 (down from US$0.19 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sterling Bancorp (Southfield MI) Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 50%.
Looking ahead, revenue is expected to decline by 20% p.a. on average during the next 2 years, while revenues in the Mortgage industry in the US are expected to grow by 6.7%.
Performance of the American Mortgage industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
We should say that we've discovered 1 warning sign for Sterling Bancorp (Southfield MI) that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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