Kennedy Capital Management Inc. Purchases Shares of 199,650 Sterling Bancorp Inc (SBT)
Kennedy Capital Management Inc. purchased a new position in Sterling Bancorp Inc (NASDAQ:SBT) during the fourth quarter, Holdings Channel reports. The fund purchased 199,650 shares of the company’s stock, valued at approximately $2,536,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Banc Funds Co. LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter worth approximately $5,474,000. Cortina Asset Management LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter worth approximately $3,937,000. River Oaks Capital LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter worth approximately $928,000. Monashee Investment Management LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter worth approximately $7,537,000. Finally, Citadel Advisors LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter worth approximately $3,831,000. 28.79% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Sandler O’Neill started coverage on shares of Sterling Bancorp in a report on Thursday, December 21st. They issued a “buy” rating and a $14.00 price objective for the company.
Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.20 earnings per share for the quarter. The firm had revenue of $29.74 million during the quarter.
The company also recently disclosed a special dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $0.01 dividend. The ex-dividend date was Tuesday, February 13th. This represents a yield of 0.000800640512409928%.
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Sterling Bancorp Profile
Sterling Bancorp, Inc is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.
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