Evercore Wealth Management LLC Makes New $704,000 Investment in Sterling Bancorp (NYSE:STL)

Evercore Wealth Management LLC purchased a new position in shares of Sterling Bancorp (NYSE:STL) during the first quarter, Holdings Channel.com reports. The firm purchased 30,600 shares of the financial services provider’s stock, valued at approximately $704,000.

Several other institutional investors have also bought and sold shares of the business. FMR LLC lifted its holdings in shares of Sterling Bancorp by 81,198.3% in the 1st quarter. FMR LLC now owns 1,713,769 shares of the financial services provider’s stock worth $31,928,000 after purchasing an additional 1,711,661 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Sterling Bancorp by 32.0% in the 1st quarter. First Trust Advisors LP now owns 337,196 shares of the financial services provider’s stock worth $6,282,000 after purchasing an additional 81,732 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Sterling Bancorp by 1.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 98,870 shares of the financial services provider’s stock worth $1,778,000 after purchasing an additional 1,475 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Sterling Bancorp by 31.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 100,183 shares of the financial services provider’s stock worth $1,801,000 after purchasing an additional 24,082 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Sterling Bancorp by 7.6% in the 4th quarter. Stifel Financial Corp now owns 355,372 shares of the financial services provider’s stock worth $6,389,000 after purchasing an additional 25,102 shares in the last quarter. Hedge funds and other institutional investors own 84.51% of the company’s stock.

In other news, insider Thomas X. Geisel sold 3,974 shares of the firm’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $25.48, for a total transaction of $101,257.52. Also, CEO Jack L. Kopnisky sold 25,000 shares of the firm’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $25.31, for a total value of $632,750.00. Following the sale, the chief executive officer now directly owns 518,388 shares of the company’s stock, valued at $13,120,400.28. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

A number of equities analysts recently issued reports on the company. Janney Montgomery Scott reiterated a “neutral” rating and issued a $25.00 target price on shares of Sterling Bancorp in a report on Monday, April 26th. Maxim Group raised their price objective on Sterling Bancorp from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 20th. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 11th. Finally, B. Riley restated a “neutral” rating and set a $26.00 price objective on shares of Sterling Bancorp in a research note on Monday, April 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Sterling Bancorp currently has a consensus rating of “Buy” and an average target price of $25.71.

Shares of Sterling Bancorp stock opened at $21.77 on Thursday. Sterling Bancorp has a 1 year low of $9.83 and a 1 year high of $27.22. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 13.96 and a beta of 1.70. The company’s fifty day simple moving average is $24.96. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Wednesday, July 21st. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Sterling Bancorp had a return on equity of 7.69% and a net margin of 28.38%. The firm had revenue of $249.02 million during the quarter, compared to analyst estimates of $252.52 million. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Sterling Bancorp will post 2 EPS for the current fiscal year.

Sterling Bancorp Profile

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including interest and non-interest checking, savings, money market, time, and demand deposits, as well as certificates of deposit.

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

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