Public Employees Retirement Association of Colorado lowered its stake in Sterling Bancorp (NYSE:STL) by 18.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,264 shares of the financial services provider’s stock after selling 9,350 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Sterling Bancorp were worth $953,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Sterling Bancorp by 32.0% in the fourth quarter. BlackRock Inc. now owns 23,516,070 shares of the financial services provider’s stock valued at $578,494,000 after buying an additional 5,699,675 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Sterling Bancorp in the fourth quarter valued at $176,300,000. Clearbridge Investments LLC increased its holdings in shares of Sterling Bancorp by 794,685.8% in the fourth quarter. Clearbridge Investments LLC now owns 5,078,681 shares of the financial services provider’s stock valued at $124,936,000 after buying an additional 5,078,042 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Sterling Bancorp by 54.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,053,762 shares of the financial services provider’s stock valued at $124,323,000 after buying an additional 1,789,102 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Sterling Bancorp by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 3,606,466 shares of the financial services provider’s stock worth $88,719,000 after purchasing an additional 135,984 shares in the last quarter. 88.91% of the stock is currently owned by institutional investors.
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NYSE STL opened at $24.55 on Friday. Sterling Bancorp has a twelve month low of $24.35 and a twelve month high of $24.60. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 17.54 and a beta of 1.12.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Sterling Bancorp had a net margin of 16.84% and a return on equity of 9.24%. The firm had revenue of $262.57 million for the quarter, compared to analysts’ expectations of $259.67 million. During the same period in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was up 108.8% compared to the same quarter last year. equities analysts expect that Sterling Bancorp will post 1.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 21st. Shareholders of record on Monday, May 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, May 4th. Sterling Bancorp’s payout ratio is 20.00%.
In other news, Director James F. Deutsch sold 200,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $25.22, for a total transaction of $5,044,000.00. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately $12,610. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.09% of the company’s stock.
STL has been the topic of several research analyst reports. Maxim Group reiterated a “buy” rating and set a $32.00 price objective on shares of Sterling Bancorp in a research report on Wednesday, April 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $34.00 price objective on shares of Sterling Bancorp in a research report on Thursday, April 5th. Jefferies Group reiterated a “buy” rating and set a $30.00 price objective on shares of Sterling Bancorp in a research report on Thursday, January 25th. Finally, Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.14.
Sterling Bancorp Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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