Dimensional Fund Advisors LP reduced its position in shares of Sterling Bancorp (NYSE:STL) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,883,374 shares of the financial services provider’s stock after selling 11,254 shares during the period. Dimensional Fund Advisors LP owned approximately 0.06% of Sterling Bancorp worth $184,472,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Strs Ohio increased its position in shares of Sterling Bancorp by 3.8% in the third quarter. Strs Ohio now owns 8,100 shares of the financial services provider’s stock worth $141,000 after buying an additional 300 shares during the period. Aperio Group LLC increased its position in shares of Sterling Bancorp by 2.2% in the third quarter. Aperio Group LLC now owns 14,520 shares of the financial services provider’s stock worth $254,000 after buying an additional 317 shares during the period. BlackRock Inc. increased its position in shares of Sterling Bancorp by 1.1% in the third quarter. BlackRock Inc. now owns 33,733 shares of the financial services provider’s stock worth $590,000 after buying an additional 370 shares during the period. Legal & General Group Plc increased its position in shares of Sterling Bancorp by 1.4% in the second quarter. Legal & General Group Plc now owns 27,437 shares of the financial services provider’s stock worth $425,000 after buying an additional 382 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Sterling Bancorp by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 26,670 shares of the financial services provider’s stock worth $467,000 after buying an additional 430 shares during the period. Hedge funds and other institutional investors own 73.52% of the company’s stock.
Shares of Sterling Bancorp (NYSE:STL) traded up 1.24% during mid-day trading on Tuesday, reaching $24.40. The company had a trading volume of 633,214 shares. The firm has a 50 day moving average of $23.63 and a 200-day moving average of $20.20. Sterling Bancorp has a one year low of $13.97 and a one year high of $24.85. The stock has a market capitalization of $3.30 billion, a P/E ratio of 22.80 and a beta of 1.05.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Sterling Bancorp had a return on equity of 8.05% and a net margin of 26.28%. During the same period in the previous year, the business posted $0.26 EPS. Analysts forecast that Sterling Bancorp will post $0.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 21st. Investors of record on Monday, February 6th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, February 2nd. Sterling Bancorp’s payout ratio is 26.17%.
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A number of brokerages have issued reports on STL. Hovde Group downgraded Sterling Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. Zacks Investment Research upgraded Sterling Bancorp from a “sell” rating to a “hold” rating and set a $20.00 price target for the company in a research note on Saturday, October 29th. Maxim Group increased their price target on Sterling Bancorp from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. TheStreet upgraded Sterling Bancorp from a “c” rating to a “b-” rating in a research note on Tuesday, January 24th. Finally, Piper Jaffray Companies downgraded Sterling Bancorp from an “overweight” rating to a “neutral” rating and set a $20.00 price target for the company. in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $23.25.
In other Sterling Bancorp news, Director Craig S. Thompson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $24.45, for a total value of $391,200.00. Following the transaction, the director now directly owns 237,395 shares of the company’s stock, valued at approximately $5,804,307.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas G. Kahn sold 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $23.63, for a total transaction of $1,465,060.00. Following the completion of the transaction, the director now directly owns 44,648 shares in the company, valued at $1,055,032.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,420 shares of company stock worth $2,470,447. 4.04% of the stock is currently owned by insiders.
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.
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