Sterling Bancorp (NASDAQ:SBT) Stock Price Down 3.3%

Sterling Bancorp (NASDAQ:SBT) shares were down 3.3% during mid-day trading on Monday . The stock traded as low as $4.96 and last traded at $4.99. Approximately 33,265 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 40,146 shares. The stock had previously closed at $5.16.

Sterling Bancorp Price Performance

The stock has a market cap of $256.71 million, a price-to-earnings ratio of 32.87 and a beta of 0.56. The company has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $5.49. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $33.14 million during the quarter. Sterling Bancorp had a return on equity of 2.32% and a net margin of 5.72%.

Hedge Funds Weigh In On Sterling Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sterling Bancorp by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 43,054 shares of the company’s stock worth $262,000 after acquiring an additional 1,660 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Sterling Bancorp by 4.5% during the third quarter. Nuveen Asset Management LLC now owns 39,641 shares of the company’s stock worth $239,000 after acquiring an additional 1,717 shares during the period. Barclays PLC boosted its holdings in shares of Sterling Bancorp by 74.5% during the fourth quarter. Barclays PLC now owns 4,653 shares of the company’s stock worth $28,000 after acquiring an additional 1,986 shares during the period. Princeton Capital Management LLC boosted its holdings in shares of Sterling Bancorp by 13.8% during the third quarter. Princeton Capital Management LLC now owns 16,511 shares of the company’s stock worth $96,000 after acquiring an additional 2,000 shares during the period. Finally, Chapin Davis Inc. boosted its holdings in shares of Sterling Bancorp by 20.0% during the second quarter. Chapin Davis Inc. now owns 12,000 shares of the company’s stock worth $66,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 26.37% of the company’s stock.

About Sterling Bancorp

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.