Arizona State Retirement System increased its position in Sterling Bancorp (NYSE:STL) by 129.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,739 shares of the financial services provider’s stock after buying an additional 91,345 shares during the quarter. Arizona State Retirement System’s holdings in Sterling Bancorp were worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its position in Sterling Bancorp by 75.8% in the 3rd quarter. GSA Capital Partners LLP now owns 61,284 shares of the financial services provider’s stock worth $1,511,000 after buying an additional 26,422 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Sterling Bancorp in the 3rd quarter worth approximately $325,000. Crossmark Global Holdings Inc. bought a new stake in Sterling Bancorp in the 3rd quarter worth approximately $617,000. Advantus Capital Management Inc bought a new stake in Sterling Bancorp in the 3rd quarter worth approximately $493,000. Finally, Hermes Investment Management Ltd. lifted its position in Sterling Bancorp by 8.0% in the 4th quarter. Hermes Investment Management Ltd. now owns 1,155,433 shares of the financial services provider’s stock worth $28,424,000 after buying an additional 86,027 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.
Sterling Bancorp (NYSE:STL) opened at $23.25 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $5,439.74, a P/E ratio of 30.20 and a beta of 1.06. Sterling Bancorp has a 12 month low of $21.00 and a 12 month high of $26.50.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.20%. Sterling Bancorp’s dividend payout ratio (DPR) is presently 36.36%.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $33.50 price target on shares of Sterling Bancorp in a research note on Tuesday. Jefferies Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Thursday, January 25th. Maxim Group lifted their price target on Sterling Bancorp from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, JMP Securities began coverage on Sterling Bancorp in a research note on Monday, November 20th. They issued a “market perform” rating and a $25.85 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.92.
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Sterling Bancorp Company 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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