Gotham Asset Management LLC Acquires Shares of 8,472 Sterling Bancorp (STL)

Gotham Asset Management LLC acquired a new stake in shares of Sterling Bancorp (NYSE:STL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,472 shares of the financial services provider’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STL. TCI Wealth Advisors Inc. raised its stake in shares of Sterling Bancorp by 8,213.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 6,734 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 6,653 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Sterling Bancorp by 82.8% during the third quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock worth $193,000 after buying an additional 3,554 shares in the last quarter. Highlander Capital Management LLC grew its position in shares of Sterling Bancorp by 700.0% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the financial services provider’s stock worth $197,000 after buying an additional 7,000 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in shares of Sterling Bancorp during the fourth quarter worth approximately $201,000. Finally, Connable Office Inc. acquired a new stake in shares of Sterling Bancorp during the fourth quarter worth approximately $202,000. Institutional investors own 88.74% of the company’s stock.

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A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 30th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.50 price target on shares of Sterling Bancorp in a research report on Tuesday, February 27th. Maxim Group raised their price target on shares of Sterling Bancorp from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Jefferies Group reissued a “buy” rating and set a $30.00 price target on shares of Sterling Bancorp in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.84.

STL stock opened at $21.70 on Friday. Sterling Bancorp has a twelve month low of $21.00 and a twelve month high of $26.50. 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 cap of $5,001.42, a PE ratio of 15.50 and a beta of 1.12.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $265.00 million during the quarter, compared to the consensus estimate of $267.08 million. Sterling Bancorp had a net margin of 12.46% and a return on equity of 8.93%. The business’s quarterly revenue was up 115.3% on a year-over-year basis. analysts anticipate that Sterling Bancorp will post 1.88 EPS for the current year.

In other Sterling Bancorp news, Director James F. Deutsch sold 200,000 shares of Sterling Bancorp stock in a transaction on Friday, March 9th. The shares were sold at an average price of $25.22, for a total value of $5,044,000.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $12,610. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.74% of the company’s stock.

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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.

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

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