New York State Common Retirement Fund Sells 10,471 Shares of Sterling Bancorp (NASDAQ:SBT)

New York State Common Retirement Fund cut its stake in shares of Sterling Bancorp (NASDAQ:SBT) by 20.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,329 shares of the company’s stock after selling 10,471 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Sterling Bancorp worth $188,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SBT. BNP Paribas Arbitrage SA grew its stake in shares of Sterling Bancorp by 44.6% during the first quarter. BNP Paribas Arbitrage SA now owns 7,468 shares of the company’s stock worth $42,000 after purchasing an additional 2,302 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Sterling Bancorp during the first quarter worth $53,000. PDT Partners LLC acquired a new stake in shares of Sterling Bancorp during the first quarter worth $57,000. Barclays PLC grew its stake in shares of Sterling Bancorp by 159.0% during the first quarter. Barclays PLC now owns 13,683 shares of the company’s stock worth $78,000 after purchasing an additional 8,401 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Sterling Bancorp by 3.7% during the first quarter. Geode Capital Management LLC now owns 274,546 shares of the company’s stock worth $1,553,000 after purchasing an additional 9,782 shares during the period. 22.34% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SBT opened at $5.29 on Tuesday. Sterling Bancorp has a 1 year low of $2.89 and a 1 year high of $5.95. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 1.17. The stock has a market cap of $267.01 million, a price-to-earnings ratio of -40.69 and a beta of 0.80. The stock has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $5.01.

Sterling Bancorp (NASDAQ:SBT) last posted its earnings results on Sunday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $23.33 million during the quarter, compared to analyst estimates of $24.10 million. Sterling Bancorp had a negative net margin of 5.05% and a negative return on equity of 2.13%. Sell-side analysts forecast that Sterling Bancorp will post 0.22 earnings per share for the current year.

Separately, Zacks Investment Research cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th.

About Sterling Bancorp

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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

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