Swiss National Bank boosted its position in shares of Sterling Bancorp (NYSE:STL) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,464 shares of the financial services provider’s stock after buying an additional 9,400 shares during the period. Swiss National Bank owned 0.17% of Sterling Bancorp worth $8,467,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of STL. TCI Wealth Advisors Inc. increased its stake in Sterling Bancorp by 8,213.6% during the 4th quarter. TCI Wealth Advisors Inc. now owns 6,734 shares of the financial services provider’s stock worth $166,000 after buying an additional 6,653 shares in the last quarter. Highlander Capital Management LLC increased its stake in Sterling Bancorp by 700.0% during the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock worth $197,000 after buying an additional 7,000 shares in the last quarter. Cigna Investments Inc. New purchased a new stake in Sterling Bancorp during the 4th quarter worth approximately $201,000. Connable Office Inc. purchased a new stake in Sterling Bancorp during the 4th quarter worth approximately $202,000. Finally, Gotham Asset Management LLC purchased a new stake in Sterling Bancorp during the 4th quarter worth approximately $208,000. Institutional investors own 91.31% of the company’s stock.
Several equities research analysts have commented on STL shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $33.50 price objective on shares of Sterling Bancorp in a research note on Tuesday, February 27th. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, March 28th. Finally, Maxim Group restated a “buy” rating and set a $32.00 target price on shares of Sterling Bancorp in a report on Wednesday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.14.
In other news, Director James F. Deutsch sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $25.22, for a total transaction of $5,044,000.00. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately $12,610. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.09% of the company’s stock.
Shares of Sterling Bancorp stock opened at $24.95 on Friday. The company has a market cap of $5.58 billion, a PE ratio of 17.82 and a beta of 1.12. Sterling Bancorp has a 1-year low of $24.27 and a 1-year high of $25.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 0.99.
Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, April 24th. The financial services provider reported $0.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $262.57 million for the quarter, compared to analysts’ expectations of $259.67 million. Sterling Bancorp had a return on equity of 9.24% and a net margin of 16.84%. The business’s revenue for the quarter was up 108.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. analysts expect that Sterling Bancorp will post 1.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 21st. Stockholders of record on Monday, May 7th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Friday, May 4th. Sterling Bancorp’s dividend payout ratio is currently 20.00%.
Sterling Bancorp Company Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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