Intrust Bank NA Acquires Shares of 9,128 Sterling Bancorp (STL)

Intrust Bank NA acquired a new stake in shares of Sterling Bancorp (NYSE:STL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,128 shares of the financial services provider’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Sterling Bancorp by 25.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 524,765 shares of the financial services provider’s stock valued at $12,909,000 after purchasing an additional 107,906 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Sterling Bancorp by 51.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,683,581 shares of the financial services provider’s stock valued at $66,015,000 after purchasing an additional 907,999 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Sterling Bancorp by 2.4% during the fourth quarter. Retirement Systems of Alabama now owns 290,560 shares of the financial services provider’s stock valued at $7,148,000 after purchasing an additional 6,762 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in shares of Sterling Bancorp during the fourth quarter valued at about $1,368,000. Finally, Connable Office Inc. bought a new stake in shares of Sterling Bancorp during the fourth quarter valued at about $202,000. Institutional investors and hedge funds own 91.70% of the company’s stock.

Shares of Sterling Bancorp (NYSE STL) opened at $23.90 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.00 and a quick ratio of 1.00. Sterling Bancorp has a 1 year low of $21.00 and a 1 year high of $26.50. The company has a market cap of $5,327.35, a PE ratio of 31.04 and a beta of 1.06.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Sterling Bancorp had a net margin of 12.46% and a return on equity of 8.93%. The firm had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $267.08 million. Sterling Bancorp’s revenue for the quarter was up 115.3% on a year-over-year basis. equities analysts anticipate that Sterling Bancorp will post 1.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 5th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, February 2nd. Sterling Bancorp’s dividend payout ratio (DPR) is presently 36.36%.

STL has been the topic of a number of recent analyst reports. Maxim Group restated a “buy” rating and set a $30.00 price objective on shares of Sterling Bancorp in a research note on Wednesday, October 25th. Jefferies Group restated a “buy” rating and set a $30.00 price objective on shares of Sterling Bancorp in a research note on Thursday, January 25th. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, JMP Securities initiated coverage on shares of Sterling Bancorp in a research note on Monday, November 20th. They set a “market perform” rating and a $25.85 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Sterling Bancorp has an average rating of “Buy” and a consensus target price of $28.36.

In other Sterling Bancorp news, Director Monte N. Redman sold 165,000 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $23.93, for a total transaction of $3,948,450.00. Following the sale, the director now owns 428,077 shares in the company, valued at approximately $10,243,882.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James F. Deutsch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.31, for a total value of $2,531,000.00. Following the sale, the director now owns 500 shares in the company, valued at approximately $12,655. The disclosure for this sale can be found here. 3.74% of the stock is currently owned by insiders.

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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.

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

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