Millennium Management LLC Invests $9.84 Million in Sterling Bancorp (SBT) Stock

Millennium Management LLC purchased a new position in Sterling Bancorp (NASDAQ:SBT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 774,518 shares of the company’s stock, valued at approximately $9,836,000.

A number of other institutional investors have also recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in Sterling Bancorp in the fourth quarter worth approximately $1,607,000. Basswood Capital Management L.L.C. purchased a new position in Sterling Bancorp in the fourth quarter worth approximately $31,636,000. Driehaus Capital Management LLC purchased a new position in Sterling Bancorp in the fourth quarter worth approximately $5,818,000. Alliancebernstein L.P. purchased a new position in Sterling Bancorp in the fourth quarter worth approximately $3,175,000. Finally, Kennedy Capital Management Inc. purchased a new position in Sterling Bancorp in the fourth quarter worth approximately $2,536,000. Institutional investors own 28.79% of the company’s stock.

How to Become a New Pot Stock Millionaire

Separately, Sandler O’Neill initiated coverage on shares of Sterling Bancorp in a research note on Thursday, December 21st. They issued a “buy” rating and a $14.00 price target for the company.

Shares of NASDAQ:SBT opened at $13.27 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.16 and a current ratio of 1.21. Sterling Bancorp has a twelve month low of $12.00 and a twelve month high of $14.98.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.20 earnings per share for the quarter. The company had revenue of $29.74 million for the quarter.

In related news, insider Michael A. Montemayor acquired 2,000 shares of Sterling Bancorp stock in a transaction dated Thursday, March 22nd. The stock was acquired at an average price of $13.20 per share, for a total transaction of $26,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

WARNING: “Millennium Management LLC Invests $9.84 Million in Sterling Bancorp (SBT) Stock” was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another domain, it was illegally copied and republished in violation of U.S. and international trademark and copyright law. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/3342964/millennium-management-llc-invests-9-84-million-in-sterling-bancorp-sbt-stock.html.

Sterling Bancorp Company Profile

Sterling Bancorp, Inc (Southfield, MI) operates as the unitary thrift holding company for Sterling Bank and Trust, f.s.b. that provides community banking services to individual and business customers in the United States. The company offers checking, saving, and money market accounts, as well as IRAs and certificates of deposits; and one- to four-family residential, commercial, commercial real estate, construction, and consumer loans, as well as commercial lines of credit.

Want to see what other hedge funds are holding SBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Bancorp (NASDAQ:SBT).

Institutional Ownership by Quarter for Sterling Bancorp (NASDAQ:SBT)

Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Electronic PK Chain  24-Hour Volume Hits $832,169.00
Electronic PK Chain 24-Hour Volume Hits $832,169.00
Berenberg Bank Initiates Coverage on Ironwood Pharmaceuticals
Berenberg Bank Initiates Coverage on Ironwood Pharmaceuticals
DRP Utility  Price Reaches $0.35
DRP Utility Price Reaches $0.35
GCN Coin  Price Down 4.7% Over Last Week
GCN Coin Price Down 4.7% Over Last Week
Comparing RBC Bearings  & SKF
Comparing RBC Bearings & SKF
Contrasting Geely  & Its Competitors
Contrasting Geely & Its Competitors


Leave a Reply

© 2006-2018 Ticker Report. Google+.