Connable Office Inc. acquired a new stake in shares of Sterling Bancorp (NYSE:STL) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 8,218 shares of the financial services provider’s stock, valued at approximately $202,000.

Several other large investors also recently added to or reduced their stakes in STL. PNC Financial Services Group Inc. raised its stake in shares of Sterling Bancorp by 21.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 15,551 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 2,720 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Sterling Bancorp by 2.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 74,720 shares of the financial services provider’s stock valued at $1,737,000 after purchasing an additional 1,945 shares during the period. California Public Employees Retirement System raised its stake in shares of Sterling Bancorp by 4.1% during the 2nd quarter. California Public Employees Retirement System now owns 170,100 shares of the financial services provider’s stock valued at $3,955,000 after purchasing an additional 6,700 shares during the period. M&T Bank Corp bought a new stake in shares of Sterling Bancorp during the 2nd quarter valued at $205,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Sterling Bancorp by 28.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 289,320 shares of the financial services provider’s stock valued at $6,727,000 after purchasing an additional 64,629 shares during the period. Institutional investors own 91.70% of the company’s stock.

Sterling Bancorp (STL) opened at $23.15 on Tuesday. The firm has a market capitalization of $5,192.48, a PE ratio of 16.74 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. Sterling Bancorp has a one year low of $21.00 and a one year high of $26.50.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $265.00 million for the quarter, compared to analyst estimates of $267.08 million. Sterling Bancorp had a return on equity of 8.93% and a net margin of 12.46%. The firm’s quarterly revenue was up 115.3% compared to the same quarter last year. equities analysts predict that Sterling Bancorp will post 1.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 5th will be paid a $0.07 dividend. The ex-dividend date is Friday, February 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.21%. Sterling Bancorp’s dividend payout ratio is currently 36.36%.

A number of analysts recently issued reports on the company. Jefferies Group reiterated a “buy” rating and set a $30.00 price objective on shares of Sterling Bancorp in a research note on Thursday, January 25th. Maxim Group boosted their price objective on Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, JMP Securities initiated coverage on Sterling Bancorp in a research note on Monday, November 20th. They set a “market perform” rating and a $25.85 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Sterling Bancorp currently has an average rating of “Buy” and an average target price of $28.36.

In other Sterling Bancorp news, Director Monte N. Redman sold 165,000 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $23.93, for a total value of $3,948,450.00. Following the transaction, the director now directly owns 428,077 shares in the company, valued at approximately $10,243,882.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Deutsch sold 100,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $25.31, for a total value of $2,531,000.00. Following the transaction, the director now owns 500 shares in the company, valued at $12,655. The disclosure for this sale can be found here. 3.74% of the stock is owned by corporate insiders.

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Sterling Bancorp Company Profile

Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.

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

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