Denali Advisors LLC boosted its holdings in Sterling Bancorp (NASDAQ:SBT) by 142.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 106,869 shares of the company’s stock after buying an additional 62,705 shares during the period. Denali Advisors LLC’s holdings in Sterling Bancorp were worth $1,043,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of Sterling Bancorp during the second quarter valued at about $202,000. Citadel Advisors LLC grew its position in shares of Sterling Bancorp by 40.5% during the second quarter. Citadel Advisors LLC now owns 40,965 shares of the company’s stock valued at $408,000 after purchasing an additional 11,809 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Sterling Bancorp during the second quarter valued at about $166,000. Paloma Partners Management Co purchased a new position in shares of Sterling Bancorp during the second quarter valued at about $217,000. Finally, Renaissance Technologies LLC grew its position in shares of Sterling Bancorp by 45.1% during the second quarter. Renaissance Technologies LLC now owns 150,200 shares of the company’s stock valued at $1,497,000 after purchasing an additional 46,700 shares in the last quarter. Institutional investors and hedge funds own 28.14% of the company’s stock.
A number of brokerages have recently weighed in on SBT. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. ValuEngine upgraded Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, TheStreet upgraded Sterling Bancorp from a “d+” rating to a “c” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.67.
SBT traded down $0.88 on Thursday, hitting $9.05. The company had a trading volume of 186 shares, compared to its average volume of 48,326. The company has a market cap of $497.59 million, a PE ratio of 7.54 and a beta of 1.34. Sterling Bancorp has a 12-month low of $6.65 and a 12-month high of $11.95. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $9.74 and its 200 day simple moving average is $9.79.
Sterling Bancorp (NASDAQ:SBT) last released its quarterly earnings results on Monday, July 29th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The company had revenue of $32.78 million during the quarter, compared to analysts’ expectations of $34.20 million. Sterling Bancorp had a return on equity of 18.23% and a net margin of 32.19%. On average, analysts anticipate that Sterling Bancorp will post 1.14 earnings per share for the current fiscal year.
Sterling Bancorp Profile
Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.
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