Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lowered its position in shares of Sterling Bancorp (NYSE:STL) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,815 shares of the financial services provider’s stock after selling 26,455 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.08% of Sterling Bancorp worth $1,939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC acquired a new position in shares of Sterling Bancorp during the first quarter worth $664,000. BNP Paribas Arbitrage SA increased its position in shares of 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 worth $611,000 after buying an additional 21,748 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of 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 worth $452,000 after buying an additional 350 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of Sterling Bancorp during the second quarter worth $191,000. Finally, Bank of Montreal Can acquired a new position in shares of Sterling Bancorp during the second quarter worth $12,643,000. Institutional investors and hedge funds own 76.54% of the company’s stock.

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

Shares of Sterling Bancorp (NYSE:STL) traded down 3.43% during mid-day trading on Monday, hitting $22.50. The company’s stock had a trading volume of 1,251,385 shares. The company has a 50-day moving average price of $19.26 and a 200-day moving average price of $17.34. The stock has a market cap of $2.94 billion, a PE ratio of 22.28 and a beta of 1.06. Sterling Bancorp has a 1-year low of $13.44 and a 1-year high of $23.55.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, October 25th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Sterling Bancorp had a return on equity of 7.90% and a net margin of 25.55%. The firm earned $112.20 million during the quarter, compared to the consensus estimate of $122.20 million. Analysts predict that Sterling Bancorp will post $0.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Monday, November 7th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.28 annualized dividend and a yield of 1.20%. Sterling Bancorp’s payout ratio is 27.72%.

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A number of research analysts have recently weighed in on STL shares. FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a report on Wednesday, August 31st. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Hovde Group assumed coverage on Sterling Bancorp in a research note on Monday, October 10th. They issued an “outperform” rating and a $20.00 target price on the stock. Jefferies Group restated a “buy” rating and issued a $21.00 target price on shares of Sterling Bancorp in a research note on Tuesday, November 1st. Finally, Piper Jaffray Cos. downgraded Sterling Bancorp from an “overweight” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Wednesday, November 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $19.83.

In related news, Director James F. Deutsch sold 200,000 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $19.09, for a total transaction of $3,818,000.00. Following the completion of the sale, the director now owns 500 shares in the company, valued at approximately $9,545. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James F. Deutsch sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $17.58, for a total value of $1,758,000.00. Following the sale, the director now owns 500 shares of the company’s stock, valued at approximately $8,790. The disclosure for this sale can be found here. Corporate 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.

5 Day Chart for NYSE:STL

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