Sterling Bancorp (STL) Position Boosted by US Bancorp DE
US Bancorp DE raised its position in shares of Sterling Bancorp (NYSE:STL) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 19,140 shares of the financial services provider’s stock after buying an additional 39 shares during the period. US Bancorp DE’s holdings in Sterling Bancorp were worth $445,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in Sterling Bancorp by 50,894.8% in the first quarter. BlackRock Inc. now owns 15,992,998 shares of the financial services provider’s stock worth $379,033,000 after buying an additional 15,961,636 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sterling Bancorp by 5.1% in the first quarter. Vanguard Group Inc. now owns 11,689,095 shares of the financial services provider’s stock worth $277,031,000 after buying an additional 566,776 shares in the last quarter. Wellington Management Group LLP boosted its stake in Sterling Bancorp by 7.3% in the first quarter. Wellington Management Group LLP now owns 11,034,467 shares of the financial services provider’s stock worth $261,517,000 after buying an additional 751,740 shares in the last quarter. State Street Corp boosted its stake in Sterling Bancorp by 26.9% in the first quarter. State Street Corp now owns 5,931,005 shares of the financial services provider’s stock worth $140,564,000 after buying an additional 1,257,312 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Sterling Bancorp by 10.2% in the first quarter. Alliancebernstein L.P. now owns 2,848,551 shares of the financial services provider’s stock worth $67,511,000 after buying an additional 262,826 shares in the last quarter. 87.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sterling Bancorp (NYSE:STL) remained flat at $21.95 during midday trading on Friday. The stock had a trading volume of 445,241 shares. The stock has a 50-day moving average price of $22.92 and a 200 day moving average price of $23.31. The stock has a market cap of $2.98 billion, a PE ratio of 18.31 and a beta of 1.07. Sterling Bancorp has a 52-week low of $16.75 and a 52-week high of $25.85.
Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. The firm had revenue of $126.88 million during the quarter, compared to the consensus estimate of $133.85 million. Equities research analysts predict that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.28%. Sterling Bancorp’s dividend payout ratio (DPR) is presently 23.33%.
Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Sterling Bancorp in a report on Tuesday, May 30th. BidaskClub raised Sterling Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Sterling Bancorp in a report on Friday, May 19th. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, ValuEngine raised Sterling Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $27.07.
In related news, Director Craig S. Thompson sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $21.62, for a total transaction of $43,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Burt Steinberg purchased 10,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $21.88 per share, with a total value of $218,800.00. Following the transaction, the director now owns 135,146 shares in the company, valued at $2,956,994.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,000 shares of company stock valued at $162,300. Insiders own 3.74% 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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