Sterling Bancorp (NASDAQ:SBT) Position Raised by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. raised its stake in shares of Sterling Bancorp (NASDAQ:SBT) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,740 shares of the company’s stock after buying an additional 2,753 shares during the quarter. Penn Capital Management Co. Inc. owned about 0.12% of Sterling Bancorp worth $443,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. purchased a new position in Sterling Bancorp during the 4th quarter valued at about $90,000. Trexquant Investment LP purchased a new position in shares of Sterling Bancorp during the third quarter worth about $176,000. SG Americas Securities LLC purchased a new position in shares of Sterling Bancorp during the fourth quarter worth about $108,000. Virtu Financial LLC purchased a new position in shares of Sterling Bancorp during the third quarter worth about $183,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Sterling Bancorp during the third quarter worth about $194,000. 31.29% of the stock is owned by institutional investors and hedge funds.

SBT traded down $0.12 during midday trading on Friday, hitting $9.74. The stock had a trading volume of 40,850 shares, compared to its average volume of 69,630. The firm has a market cap of $506.28 million, a P/E ratio of 8.12 and a beta of 1.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.19 and a quick ratio of 1.19. Sterling Bancorp has a 1 year low of $6.65 and a 1 year high of $14.73.

Sterling Bancorp (NASDAQ:SBT) last issued its earnings results on Monday, January 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Sterling Bancorp had a return on equity of 20.36% and a net margin of 34.53%. The business had revenue of $36.72 million during the quarter. On average, equities analysts anticipate that Sterling Bancorp will post 1.15 earnings per share for the current year.

Several research analysts have recently commented on the company. Piper Jaffray Companies assumed coverage on Sterling Bancorp in a report on Tuesday, March 19th. They set an “overweight” rating and a $14.00 price objective for the company. ValuEngine lowered Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd.

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Sterling Bancorp Company Profile

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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