Amalgamated Bank raised its holdings in shares of Sterling Bancorp (NYSE:STL) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,044 shares of the financial services provider’s stock after acquiring an additional 841 shares during the period. Amalgamated Bank’s holdings in Sterling Bancorp were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ronna Sue Cohen lifted its stake in Sterling Bancorp by 0.3% during the 1st quarter. Ronna Sue Cohen now owns 10,212 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 29 shares during the period. Alps Advisors Inc. lifted its stake in Sterling Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 19,465 shares of the financial services provider’s stock valued at $453,000 after acquiring an additional 50 shares during the period. Teacher Retirement System of Texas lifted its stake in Sterling Bancorp by 2.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,330 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 200 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in Sterling Bancorp by 0.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 34,570 shares of the financial services provider’s stock valued at $819,000 after acquiring an additional 260 shares during the period. Finally, World Asset Management Inc lifted its stake in Sterling Bancorp by 3.0% during the 2nd quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 90.91% of the company’s stock.

Sterling Bancorp (NYSE STL) opened at 24.55 on Friday. The firm has a market capitalization of $3.33 billion, a PE ratio of 20.48 and a beta of 1.07. Sterling Bancorp has a 1-year low of $16.75 and a 1-year high of $25.85. The company has a 50 day moving average of $22.96 and a 200 day moving average of $22.95.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $133.85 million. Analysts forecast that Sterling Bancorp will post $0.69 EPS for the current year.

Several analysts have commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Sterling Bancorp in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $27.31.

In other news, Director Burt Steinberg acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $21.88 per share, for a total transaction of $218,800.00. Following the transaction, the director now directly owns 135,146 shares in the company, valued at approximately $2,956,994.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard L. O’toole acquired 4,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average price of $22.60 per share, for a total transaction of $90,400.00. Following the completion of the transaction, the director now owns 21,291 shares in the company, valued at $481,176.60. The disclosure for this purchase can be found here. Company insiders own 3.74% of the company’s stock.

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About Sterling Bancorp

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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