Amalgamated Bank boosted its position in shares of Sterling Bancorp (NYSE:STL) by 73.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,804 shares of the financial services provider’s stock after acquiring an additional 13,007 shares during the period. Amalgamated Bank’s holdings in Sterling Bancorp were worth $758,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaOne Investment Services LLC boosted its holdings in Sterling Bancorp by 9.7% during the fourth quarter. AlphaOne Investment Services LLC now owns 202,810 shares of the financial services provider’s stock valued at $4,989,000 after purchasing an additional 17,998 shares in the last quarter. Liberty Mutual Group Asset Management Inc. acquired a new stake in Sterling Bancorp during the fourth quarter valued at approximately $1,403,000. Pinnacle Holdings LLC acquired a new stake in Sterling Bancorp during the fourth quarter valued at approximately $623,000. Eaton Vance Management boosted its holdings in Sterling Bancorp by 30.6% during the fourth quarter. Eaton Vance Management now owns 648,601 shares of the financial services provider’s stock valued at $15,956,000 after purchasing an additional 151,844 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in Sterling Bancorp by 0.5% during the fourth quarter. OppenheimerFunds Inc. now owns 1,549,167 shares of the financial services provider’s stock valued at $38,109,000 after purchasing an additional 7,779 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.
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 value of $5,044,000.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $12,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.74% of the stock is owned by insiders.
Shares of STL traded down $0.70 on Friday, hitting $21.70. The company’s stock had a trading volume of 2,559,154 shares, compared to its average volume of 1,996,778. The company has a market capitalization of $5,035.13, a P/E ratio of 16.23 and a beta of 1.12. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.00 and a quick ratio of 1.00. Sterling Bancorp has a fifty-two week low of $21.00 and a fifty-two week high of $26.50.
Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $265.00 million for the quarter, compared to the consensus estimate of $267.08 million. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. Sterling Bancorp’s revenue was up 115.3% compared to the same quarter last year. sell-side analysts anticipate that Sterling Bancorp will post 1.9 EPS for the current fiscal year.
STL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Maxim Group lifted their price objective on Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Jefferies Group reaffirmed a “buy” rating and set a $30.00 price objective on shares of Sterling Bancorp in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $33.50 price objective on shares of Sterling Bancorp in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.84.
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Sterling Bancorp Profile
Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.
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