Jane Street Group LLC Acquires New Holdings in Sterling Bancorp (STL)

Jane Street Group LLC acquired a new position in Sterling Bancorp (NYSE:STL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,217 shares of the financial services provider’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kennedy Capital Management Inc. raised its holdings in Sterling Bancorp by 33.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 894,632 shares of the financial services provider’s stock worth $22,008,000 after purchasing an additional 225,912 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Sterling Bancorp by 2.4% during the fourth quarter. Retirement Systems of Alabama now owns 290,560 shares of the financial services provider’s stock valued at $7,148,000 after acquiring an additional 6,762 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Sterling Bancorp by 75.8% during the third quarter. GSA Capital Partners LLP now owns 61,284 shares of the financial services provider’s stock valued at $1,511,000 after acquiring an additional 26,422 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Sterling Bancorp during the third quarter valued at $325,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Sterling Bancorp by 51.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,683,581 shares of the financial services provider’s stock valued at $66,015,000 after acquiring an additional 907,999 shares in the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.

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Sterling Bancorp stock opened at $21.70 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Bancorp has a one year low of $21.00 and a one year high of $26.50. The firm has a market cap of $4,877.79, a P/E 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, beating the consensus estimate of $0.38 by $0.01. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. The company had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $267.08 million. The firm’s revenue for the quarter was up 115.3% compared to the same quarter last year. equities analysts anticipate that Sterling Bancorp will post 1.9 EPS for the current fiscal year.

In related news, Director James F. Deutsch sold 200,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $25.22, for a total transaction of $5,044,000.00. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at $12,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.74% of the company’s stock.

STL has been the subject of several analyst reports. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a report on Tuesday, January 2nd. Jefferies Group restated a “buy” rating and set a $30.00 price target on shares of Sterling Bancorp in a report on Thursday, January 25th. Keefe, Bruyette & Woods restated a “buy” rating and set a $33.50 price target on shares of Sterling Bancorp in a report on Tuesday, February 27th. Finally, Maxim Group raised their price target on Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.84.

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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.

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

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