Sterling Bancorp Q1 adjusted earnings Inline With Estimates

(RTTNews) - Sterling Bancorp (STL) reported a profit for its first quarter that rose from last year.

The company's earnings totaled $96.87 million, or $0.43 per share. This compares with $39.07 million, or $0.29 per share, in last year's first quarter.

Excluding items, Sterling Bancorp reported adjusted earnings of $100.88 million or $0.45 per share for the period.

Analysts had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 108.8% to $262.57 million from $125.75 million last year.

Sterling Bancorp earnings at a glance:

-Earnings (Q1): $100.88 Mln. vs. $41.46 Mln. last year. -EPS (Q1): $0.45 vs. $0.31 last year. -Analysts Estimate: $0.45 -Revenue (Q1): $262.57 Mln vs. $125.75 Mln last year.