Raymond James & Associates Has $2.10 Million Holdings in Sterling Bancorp (NYSE:STL)

Raymond James & Associates lifted its holdings in shares of Sterling Bancorp (NYSE:STL) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,226 shares of the financial services provider’s stock after purchasing an additional 5,574 shares during the period. Raymond James & Associates’ holdings in Sterling Bancorp were worth $2,102,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of STL. FMR LLC lifted its holdings in shares of Sterling Bancorp by 81,198.3% during the first quarter. FMR LLC now owns 1,713,769 shares of the financial services provider’s stock worth $31,928,000 after purchasing an additional 1,711,661 shares during the period. Bank of America Corp DE lifted its holdings in shares of Sterling Bancorp by 18.3% during the second quarter. Bank of America Corp DE now owns 3,282,035 shares of the financial services provider’s stock worth $81,360,000 after purchasing an additional 507,588 shares during the period. Amundi acquired a new position in shares of Sterling Bancorp during the second quarter worth $10,832,000. LMR Partners LLP acquired a new position in shares of Sterling Bancorp during the second quarter worth $10,412,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Sterling Bancorp by 98.6% during the third quarter. Nordea Investment Management AB now owns 662,844 shares of the financial services provider’s stock worth $16,598,000 after purchasing an additional 329,060 shares during the period. Institutional investors own 81.52% of the company’s stock.

STL stock opened at $29.64 on Friday. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 15.85 and a beta of 1.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. Sterling Bancorp has a 12-month low of $18.35 and a 12-month high of $30.02. The company’s fifty day simple moving average is $26.29 and its 200 day simple moving average is $24.59.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings results on Tuesday, October 19th. The financial services provider reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Sterling Bancorp had a net margin of 34.84% and a return on equity of 8.75%. The firm had revenue of $246.40 million during the quarter, compared to the consensus estimate of $252.31 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Research analysts expect that Sterling Bancorp will post 2.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Monday, November 1st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, October 29th. Sterling Bancorp’s dividend payout ratio (DPR) is currently 14.97%.

Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Friday, December 31st. Royal Bank of Canada boosted their target price on shares of Sterling Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, October 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.50.

In other Sterling Bancorp news, CEO Jack L. Kopnisky sold 54,435 shares of Sterling Bancorp stock in a transaction on Wednesday, October 27th. The shares were sold at an average price of $25.38, for a total value of $1,381,560.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Luis Massiani sold 51,864 shares of Sterling Bancorp stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $26.80, for a total transaction of $1,389,955.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,070 shares of company stock valued at $3,051,554. Insiders own 1.06% of the company’s stock.

About Sterling Bancorp

Sterling Bancorp operates as a financial and bank holding company of Sterling National Bank, which engages in the provision of commercial, business, and consumer banking products and services through its subsidiary. The company was founded in 1888 and is headquartered in Pearl River, NY.

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

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