Rhumbline Advisers raised its stake in Sterling Bancorp (NYSE:STL) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 283,615 shares of the financial services provider’s stock after buying an additional 4,723 shares during the period. Rhumbline Advisers owned about 0.21% of Sterling Bancorp worth $6,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ronna Sue Cohen boosted its position in Sterling Bancorp by 0.3% in the first quarter. Ronna Sue Cohen now owns 10,212 shares of the financial services provider’s stock valued at $242,000 after buying an additional 29 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Sterling Bancorp by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 10,330 shares of the financial services provider’s stock valued at $240,000 after buying an additional 200 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Sterling Bancorp by 0.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 34,570 shares of the financial services provider’s stock valued at $819,000 after buying an additional 260 shares in the last quarter. World Asset Management Inc boosted its position in Sterling Bancorp by 3.0% in the second quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock valued at $206,000 after buying an additional 261 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Sterling Bancorp by 1.6% in the second quarter. Aperio Group LLC now owns 22,564 shares of the financial services provider’s stock valued at $525,000 after buying an additional 347 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sterling Bancorp (NYSE STL) opened at 22.25 on Tuesday. Sterling Bancorp has a 52 week low of $16.75 and a 52 week high of $25.85. The firm has a 50 day moving average price of $22.72 and a 200 day moving average price of $23.25. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 18.56 and a beta of 1.07.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.33. The business had revenue of $126.88 million during the quarter, compared to the consensus estimate of $133.85 million. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. Equities analysts forecast that Sterling Bancorp will post $0.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.26%. Sterling Bancorp’s payout ratio is currently 23.33%.

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Several research firms have weighed in on STL. BidaskClub cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Sterling Bancorp in a research report on Friday, May 19th. Maxim Group restated a “buy” rating and issued a $30.00 target price on shares of Sterling Bancorp in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Sterling Bancorp in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.07.

In related news, Director Burt Steinberg acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased 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 of the company’s stock, valued at approximately $2,956,994.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel James P. Blose sold 3,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $24.00, for a total transaction of $72,000.00. Following the transaction, the general counsel now directly owns 18,433 shares of the company’s stock, valued at approximately $442,392. The disclosure for this sale can be found here. Company 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.

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

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