Sterling Bancorp (SBT) Stock Rating Reaffirmed by Sandler O’Neill

Sterling Bancorp (NASDAQ:SBT)‘s stock had its “buy” rating reiterated by equities researchers at Sandler O’Neill in a note issued to investors on Wednesday, January 3rd. They presently have a $14.50 price objective on the stock. Sandler O’Neill’s target price suggests a potential upside of 6.62% from the company’s current price.

Sterling Bancorp (SBT) traded up $0.39 during trading on Wednesday, hitting $13.60. 76,719 shares of the stock were exchanged, compared to its average volume of 105,878. Sterling Bancorp has a one year low of $12.00 and a one year high of $14.01.

In other Sterling Bancorp news, Director Seth S. Meltzer sold 304,933 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $12.00, for a total value of $3,659,196.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas W. Jr. Lopp purchased 7,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $84,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 24,600 shares of company stock worth $295,200 and have sold 2,305,855 shares worth $27,670,260.

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Sterling Bancorp Company Profile

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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