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.
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.
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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