Sterling Bancorp (STL) Holdings Increased by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Sterling Bancorp (NYSE:STL) by 39.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,117 shares of the financial services provider’s stock after buying an additional 10,426 shares during the period. Sei Investments Co.’s holdings in Sterling Bancorp were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STL. State Street Corp raised its holdings in Sterling Bancorp by 38.2% during the 2nd quarter. State Street Corp now owns 8,198,819 shares of the financial services provider’s stock worth $190,624,000 after buying an additional 2,267,814 shares during the period. Alliancebernstein L.P. raised its holdings in Sterling Bancorp by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,312,473 shares of the financial services provider’s stock worth $77,015,000 after buying an additional 463,922 shares during the period. Picton Mahoney Asset Management raised its holdings in Sterling Bancorp by 126.1% during the 2nd quarter. Picton Mahoney Asset Management now owns 763,525 shares of the financial services provider’s stock worth $17,751,000 after buying an additional 425,825 shares during the period. Macquarie Group Ltd. raised its holdings in Sterling Bancorp by 23.7% during the 2nd quarter. Macquarie Group Ltd. now owns 2,150,997 shares of the financial services provider’s stock worth $50,011,000 after buying an additional 411,462 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Sterling Bancorp by 50.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 784,032 shares of the financial services provider’s stock worth $18,229,000 after buying an additional 263,061 shares during the period. Hedge funds and other institutional investors own 91.70% of the company’s stock.

STL has been the topic of a number of research reports. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. ValuEngine cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Sterling Bancorp in a research report on Thursday, September 7th. Royal Bank Of Canada cut their target price on Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. Finally, Maxim Group restated a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.48.

Shares of Sterling Bancorp (NYSE STL) traded down $0.25 during trading on Friday, reaching $25.25. The company had a trading volume of 2,127,535 shares, compared to its average volume of 1,864,736. Sterling Bancorp has a 1-year low of $21.00 and a 1-year high of $26.50. The firm has a market cap of $5,730.03, a price-to-earnings ratio of 19.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.99 and a current ratio of 0.99.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $134.06 million during the quarter, compared to the consensus estimate of $135.09 million. Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. analysts anticipate that Sterling Bancorp will post 1.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were given a dividend of $0.07 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. Sterling Bancorp’s payout ratio is 22.58%.

In other news, Director James F. Deutsch sold 100,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.31, for a total value of $2,531,000.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at $12,655. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Monte N. Redman sold 165,000 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $23.93, for a total value of $3,948,450.00. Following the completion of the sale, the director now directly owns 428,077 shares of the company’s stock, valued at approximately $10,243,882.61. The disclosure for this sale can be found here. Insiders have sold a total of 754,135 shares of company stock valued at $18,738,583 in the last three months. 3.74% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: This report was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://sportsperspectives.com/2017/12/09/sterling-bancorp-stl-holdings-increased-by-sei-investments-co.html.

Sterling Bancorp Profile

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.

Institutional Ownership by Quarter for Sterling Bancorp (NYSE:STL)

Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply