805,240 Shares in Sterling Bancorp (STL) Acquired by Bank of Montreal Can
Bank of Montreal Can purchased a new stake in shares of Sterling Bancorp (NYSE:STL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 805,240 shares of the financial services provider’s stock, valued at approximately $12,643,000. Bank of Montreal Can owned about 0.62% of Sterling Bancorp as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Parametrica Management Ltd purchased a new stake in Sterling Bancorp during the second quarter valued at $191,000. Capstone Asset Management Co. boosted its stake in Sterling Bancorp by 1.2% in the second quarter. Capstone Asset Management Co. now owns 28,814 shares of the financial services provider’s stock valued at $452,000 after buying an additional 350 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Sterling Bancorp by 126.6% in the second quarter. BNP Paribas Arbitrage SA now owns 38,924 shares of the financial services provider’s stock valued at $611,000 after buying an additional 21,748 shares in the last quarter. Hillcrest Asset Management LLC purchased a new stake in Sterling Bancorp during the first quarter valued at $8,491,000. Finally, Barclays PLC purchased a new stake in Sterling Bancorp during the first quarter valued at $664,000. Institutional investors and hedge funds own 77.83% of the company’s stock.
Sterling Bancorp (NYSE:STL) traded up 1.39% on Friday, hitting $17.50. 922,362 shares of the stock were exchanged. The firm has a market cap of $2.29 billion, a PE ratio of 19.27 and a beta of 1.21. The company has a 50-day moving average price of $17.34 and a 200-day moving average price of $16.45. Sterling Bancorp has a 52-week low of $13.44 and a 52-week high of $17.90.
Sterling Bancorp (NYSE:STL) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $119.51 million for the quarter, compared to the consensus estimate of $34.78 million. Sterling Bancorp had a return on equity of 7.89% and a net margin of 23.68%. On average, equities research analysts anticipate that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. FIG Partners reaffirmed an “outperform” rating on shares of Sterling Bancorp in a research report on Wednesday, August 31st. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Sterling Bancorp from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Maxim Group assumed coverage on shares of Sterling Bancorp in a research report on Wednesday, June 22nd. They set a “buy” rating and a $19.00 price objective for the company. Finally, Jefferies Group reaffirmed a “buy” rating and set a $18.50 price objective on shares of Sterling Bancorp in a research report on Thursday, July 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.88.
In other news, Director James F. Deutsch sold 100,000 shares of Sterling Bancorp stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $17.58, for a total transaction of $1,758,000.00. Following the sale, the director now directly owns 500 shares in the company, valued at approximately $8,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. O’toole bought 3,000 shares of the stock in a transaction dated Monday, September 12th. The shares were acquired at an average price of $17.40 per share, for a total transaction of $52,200.00. Following the completion of the purchase, the director now directly owns 15,796 shares in the company, valued at $274,850.40. The disclosure for this purchase can be found here. Insiders own 4.04% of the company’s stock.
Sterling Bancorp Company 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.
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