Sterling Bancorp (STL) Holdings Held by Cowen Inc.

Cowen Inc. maintained its position in shares of Sterling Bancorp (NYSE:STL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,960 shares of the financial services provider’s stock at the end of the 2nd quarter. Cowen Inc.’s holdings in Sterling Bancorp were worth $1,208,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Riverhead Capital Management LLC boosted its position in Sterling Bancorp by 70.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock valued at $119,000 after buying an additional 2,119 shares during the period. Alliancebernstein L.P. boosted its position in Sterling Bancorp by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 3,312,473 shares of the financial services provider’s stock valued at $77,015,000 after buying an additional 463,922 shares during the period. Systematic Financial Management LP boosted its position in Sterling Bancorp by 0.8% in the 2nd quarter. Systematic Financial Management LP now owns 989,353 shares of the financial services provider’s stock valued at $23,002,000 after buying an additional 7,482 shares during the period. Eaton Vance Management boosted its position in Sterling Bancorp by 32.0% in the 2nd quarter. Eaton Vance Management now owns 520,597 shares of the financial services provider’s stock valued at $12,104,000 after buying an additional 126,121 shares during the period. Finally, Engineers Gate Manager LP boosted its position in Sterling Bancorp by 8.7% in the 2nd quarter. Engineers Gate Manager LP now owns 26,243 shares of the financial services provider’s stock valued at $610,000 after buying an additional 2,097 shares during the period. 91.30% of the stock is owned by institutional investors.

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In other news, Director Burt Steinberg purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $21.88 per share, for a total transaction of $218,800.00. Following the completion of the purchase, the director now directly owns 135,146 shares of the company’s stock, valued at $2,956,994.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas G. Kahn sold 2,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $23.53, for a total transaction of $47,060.00. Following the completion of the transaction, the director now owns 44,648 shares of the company’s stock, valued at approximately $1,050,567.44. The disclosure for this sale can be found here. 3.74% of the stock is owned by insiders.

Several equities research analysts have recently weighed in on STL shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Sterling Bancorp in a research report on Friday, May 19th. ValuEngine raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Sterling Bancorp in a research report on Tuesday, May 30th. Finally, BidaskClub raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.93.

Shares of Sterling Bancorp (STL) traded up 0.114% during midday trading on Tuesday, hitting $22.025. 231,419 shares of the stock traded hands. Sterling Bancorp has a 52-week low of $16.75 and a 52-week high of $25.85. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 18.369 and a beta of 1.07. The stock has a 50-day moving average of $22.40 and a 200-day moving average of $23.07.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. The business had revenue of $126.88 million during the quarter, compared to analyst estimates of $133.85 million. On average, equities analysts predict that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 1.27%. Sterling Bancorp’s dividend payout ratio is currently 23.33%.

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.

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

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