Sterling Bancorp (STL) Tops Q1 EPS by 5c

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Go back to Sterling Bancorp (STL) Tops Q1 EPS by 5c

Sterling Bancorp (STL) PT Raised to $30 at Maxim Group

April 20, 2021 8:16 AM EDT

Maxim Group analyst Michael Diana raised the price target on Sterling Bancorp (NYSE: STL) to $30.00 (from $24.00) while maintaining a Buy rating following earnings and its merger with Webster Financial.

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Webster Financial (WBS) and Sterling (STL) Announce All-Stock Merger of Equals

April 19, 2021 6:50 AM EDT

Webster Financial Corporation (NYSE: WBS) ("Webster") and Sterling Bancorp (NYSE: STL) ("Sterling") jointly announced today that their boards of directors have approved by unanimous vote a definitive agreement under which the two companies will combine in an all-stock merger of equals transaction with a total market value of approximately $10.3 billion.

Under the terms of the agreement, Sterling will merge into Webster, and Sterling's shareholders will receive a fixed exchange ratio of 0.463 of a Webster share for each share of Sterling stock they own. Following the closing of the... More