Sullivan Bruyette Speros & Blaney LLC maintained its stake in shares of Sterling Bancorp (NYSE:STL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,052 shares of the financial services provider’s stock at the end of the second quarter. Sullivan Bruyette Speros & Blaney LLC’s holdings in Sterling Bancorp were worth $257,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of 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 valued at $379,033,000 after buying an additional 15,961,636 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 valued at $277,031,000 after buying an additional 566,776 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 valued at $261,517,000 after buying an additional 751,740 shares during the last quarter. State Street Corp boosted its stake in shares of 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 valued at $140,564,000 after buying an additional 1,257,312 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of 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 valued at $67,511,000 after buying an additional 262,826 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Shares of Sterling Bancorp (STL) opened at 22.20 on Wednesday. The company has a 50-day moving average of $22.72 and a 200 day moving average of $23.25. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 18.52 and a beta of 1.07. Sterling Bancorp has a one year low of $16.75 and a one year high of $25.85.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.28 annualized dividend and a dividend yield of 1.26%. Sterling Bancorp’s dividend payout ratio (DPR) is 23.33%.

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STL has been the subject of several research reports. Royal Bank Of Canada restated a “buy” rating on shares of Sterling Bancorp in a research note on Tuesday, May 30th. BidaskClub raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Zacks Investment Research lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Sterling Bancorp in a report on Friday, May 19th. Finally, ValuEngine raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $27.07.

In other news, General Counsel James P. Blose sold 3,000 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $24.00, for a total value of $72,000.00. Following the completion of the sale, the general counsel now owns 18,433 shares in the company, valued at $442,392. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas G. Kahn sold 2,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $23.53, for a total value of $47,060.00. Following the completion of the sale, the director now owns 44,648 shares of the company’s stock, valued at approximately $1,050,567.44. The disclosure for this sale can be found here. Corporate 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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Institutional Ownership by Quarter for Sterling Bancorp (NYSE:STL)

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