EJF Capital LLC trimmed its position in shares of Sterling Bancorp (NYSE:STL) by 24.8% during the second quarter, HoldingsChannel reports. The firm owned 1,961,961 shares of the financial services provider’s stock after selling 648,003 shares during the quarter. Sterling Bancorp comprises 5.2% of EJF Capital LLC’s portfolio, making the stock its 3rd largest holding. EJF Capital LLC’s holdings in Sterling Bancorp were worth $41,751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STL. Smith Asset Management Group LP bought a new stake in Sterling Bancorp in the 2nd quarter valued at $29,000. Bremer Bank National Association bought a new stake in Sterling Bancorp in the 1st quarter valued at $46,000. Pinebridge Investments L.P. bought a new stake in Sterling Bancorp in the 2nd quarter valued at $62,000. BNP Paribas Arbitrage SA lifted its position in Sterling Bancorp by 1,069.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,490 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 4,106 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Sterling Bancorp in the 2nd quarter valued at $200,000. 88.20% of the stock is currently owned by institutional investors.

NYSE:STL traded down $0.08 on Thursday, hitting $20.78. 10,645 shares of the company’s stock were exchanged, compared to its average volume of 1,194,549. The firm has a 50-day moving average price of $19.64 and a 200-day moving average price of $20.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.99. Sterling Bancorp has a 52 week low of $15.62 and a 52 week high of $23.40. The company has a market cap of $4.24 billion, a P/E ratio of 10.39 and a beta of 1.37.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Sterling Bancorp had a return on equity of 10.37% and a net margin of 32.55%. The business had revenue of $263.26 million for the quarter, compared to the consensus estimate of $262.02 million. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, research analysts expect that Sterling Bancorp will post 2.11 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the stock. B. Riley assumed coverage on shares of Sterling Bancorp in a research report on Tuesday, July 16th. They issued a “buy” rating and a $26.00 price objective on the stock. DA Davidson reaffirmed a “buy” rating on shares of Sterling Bancorp in a research report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price objective (up from $24.00) on shares of Sterling Bancorp in a research report on Friday, July 12th. Piper Jaffray Companies set a $26.00 price objective on shares of Sterling Bancorp and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Maxim Group reaffirmed a “buy” rating and issued a $30.00 price objective (down from $36.00) on shares of Sterling Bancorp in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $24.75.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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

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