Sterling Bancorp (STL) Stake Lifted by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can increased its position in Sterling Bancorp (NYSE:STL) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 134,442 shares of the financial services provider’s stock after buying an additional 8,724 shares during the quarter. Great West Life Assurance Co. Can owned about 0.06% of Sterling Bancorp worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in Sterling Bancorp during the 3rd quarter worth approximately $206,000. Commonwealth Equity Services LLC lifted its position in Sterling Bancorp by 13.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 67,731 shares of the financial services provider’s stock worth $1,490,000 after acquiring an additional 8,257 shares during the last quarter. MML Investors Services LLC acquired a new position in Sterling Bancorp during the 3rd quarter worth $227,000. Janus Henderson Group PLC raised its position in shares of Sterling Bancorp by 181.6% during the third quarter. Janus Henderson Group PLC now owns 2,769,402 shares of the financial services provider’s stock valued at $60,927,000 after buying an additional 1,785,780 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Sterling Bancorp by 83.0% during the third quarter. PNC Financial Services Group Inc. now owns 44,697 shares of the financial services provider’s stock valued at $983,000 after buying an additional 20,270 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on STL. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. ValuEngine upgraded shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Stephens reiterated a “buy” rating and issued a $21.00 target price on shares of Sterling Bancorp in a report on Wednesday, December 19th. Maxim Group reissued a “buy” rating and set a $36.00 price objective on shares of Sterling Bancorp in a research report on Thursday, January 24th. Finally, TheStreet downgraded shares of Sterling Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.60.

STL stock traded down $0.38 during mid-day trading on Monday, hitting $20.30. The stock had a trading volume of 1,036,083 shares, compared to its average volume of 2,537,002. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. Sterling Bancorp has a 52 week low of $15.62 and a 52 week high of $25.65. The firm has a market cap of $4.40 billion, a P/E ratio of 10.15 and a beta of 1.25.

Sterling Bancorp (NYSE:STL) last released its earnings results on Wednesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $265.35 million for the quarter, compared to analyst estimates of $266.32 million. Sterling Bancorp had a net margin of 33.95% and a return on equity of 10.54%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Equities analysts predict that Sterling Bancorp will post 2.09 EPS for the current year.

In related news, insider Brian T. Edwards sold 9,855 shares of Sterling Bancorp stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $20.19, for a total transaction of $198,972.45. Following the sale, the insider now directly owns 98,050 shares of the company’s stock, valued at approximately $1,979,629.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Landy sold 55,000 shares of Sterling Bancorp stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $19.36, for a total transaction of $1,064,800.00. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

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Sterling Bancorp Company 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 checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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

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