Separately, Piper Jaffray Companies assumed coverage on Sterling Bancorp in a research report on Tuesday, March 19th. They issued an overweight rating and a $14.00 price objective for the company.
Shares of SBT stock opened at $9.59 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $498.48 million, a PE ratio of 7.99 and a beta of 1.34. Sterling Bancorp has a one year low of $6.65 and a one year high of $14.73.
Several institutional investors and hedge funds have recently modified their holdings of SBT. Prudential Financial Inc. grew its position in shares of Sterling Bancorp by 32.4% in the 3rd quarter. Prudential Financial Inc. now owns 31,240 shares of the company’s stock valued at $354,000 after purchasing an additional 7,640 shares during the period. BlackRock Inc. grew its position in shares of Sterling Bancorp by 22.4% in the 3rd quarter. BlackRock Inc. now owns 1,078,931 shares of the company’s stock valued at $12,202,000 after purchasing an additional 197,507 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Sterling Bancorp in the 3rd quarter valued at approximately $226,000. Putnam Investments LLC acquired a new position in shares of Sterling Bancorp in the 3rd quarter valued at approximately $501,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Sterling Bancorp in the 3rd quarter valued at approximately $194,000. Institutional investors and hedge funds own 31.32% of the company’s stock.
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.
Further Reading: Gap Up Stocks
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