Sandler O’Neill Begins Coverage on Sterling Bancorp (SBT)

Stock analysts at Sandler O’Neill started coverage on shares of Sterling Bancorp (NASDAQ:SBT) in a research report issued to clients and investors on Thursday, December 21st, MarketBeat Ratings reports. The firm set a “buy” rating and a $14.00 price target on the stock. Sandler O’Neill’s price objective points to a potential upside of 2.87% from the company’s current price.

Sterling Bancorp (NASDAQ SBT) opened at $13.61 on Thursday. Sterling Bancorp has a 1-year low of $12.00 and a 1-year high of $14.01.

In related news, Director Seth S. Meltzer sold 304,933 shares of Sterling Bancorp stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $12.00, for a total transaction of $3,659,196.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Seth S. Meltzer sold 93,887 shares of Sterling Bancorp stock in a transaction on Monday, December 4th. The shares were sold at an average price of $12.00, for a total transaction of $1,126,644.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 24,600 shares of company stock valued at $295,200 and sold 2,305,855 shares valued at $27,670,260.

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About Sterling Bancorp

Sterling Bancorp, Inc is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.

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