Bank of Montreal Can decreased its stake in Sterling Bancorp (NYSE:STL) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 632,073 shares of the financial services provider’s stock after selling 60 shares during the period. Bank of Montreal Can’s holdings in Sterling Bancorp were worth $14,696,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sterling Bancorp by 51.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,735 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Sterling Bancorp by 33.5% in the first quarter. LS Investment Advisors LLC now owns 6,653 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,670 shares during the last quarter. World Asset Management Inc bought a new stake in Sterling Bancorp during the first quarter worth about $203,000. Salem Investment Counselors Inc. boosted its stake in Sterling Bancorp by 7,158.1% in the first quarter. Salem Investment Counselors Inc. now owns 9,000 shares of the financial services provider’s stock worth $746,000 after buying an additional 8,876 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in Sterling Bancorp during the first quarter worth about $214,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.
Sterling Bancorp (STL) opened at 22.45 on Friday. Sterling Bancorp has a one year low of $16.46 and a one year high of $25.85. The stock’s 50 day moving average price is $23.08 and its 200-day moving average price is $23.45. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 19.07 and a beta of 1.08.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $121.63 million for the quarter, compared to analyst estimates of $127.81 million. Sterling Bancorp had a return on equity of 8.36% and a net margin of 28.23%. On average, equities research analysts anticipate that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.
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STL has been the topic of a number of recent research reports. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. BidaskClub cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. FBR & Co set a $25.00 target price on Sterling Bancorp and gave the company a “hold” rating in a research note on Thursday, May 4th. ValuEngine upgraded Sterling Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 20th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Sterling Bancorp in a research note on Tuesday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $27.21.
In other Sterling Bancorp news, General Counsel James P. Blose sold 3,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $24.00, for a total value of $72,000.00. Following the transaction, the general counsel now owns 18,433 shares of the company’s stock, valued at $442,392. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas G. Kahn sold 2,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $23.53, for a total value of $47,060.00. Following the completion of the transaction, the director now directly owns 44,648 shares in the company, valued at approximately $1,050,567.44. The disclosure for this sale can be found here. In the last three months, insiders sold 211,500 shares of company stock worth $4,875,795. Insiders own 3.74% of the company’s stock.
About Sterling Bancorp
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
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