Nisa Investment Advisors LLC Has $487,000 Position in Sterling Bancorp (NYSE:STL)
Nisa Investment Advisors LLC held its stake in shares of Sterling Bancorp (NYSE:STL) during the second quarter, Holdings Channel reports. The fund owned 20,930 shares of the financial services provider’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Sterling Bancorp were worth $487,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sterling Bancorp by 51.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,735 shares during the period. LS Investment Advisors LLC boosted its stake in Sterling Bancorp by 33.5% in the first quarter. LS Investment Advisors LLC now owns 6,653 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,670 shares during the period. World Asset Management Inc acquired a new stake in Sterling Bancorp during the first quarter worth approximately $203,000. Tocqueville Asset Management L.P. acquired a new stake in Sterling Bancorp during the first quarter worth approximately $214,000. Finally, Everence Capital Management Inc. acquired a new stake in Sterling Bancorp during the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Shares of Sterling Bancorp (NYSE STL) traded down 1.464% on Friday, hitting $21.875. The stock had a trading volume of 876,238 shares. The stock has a 50 day moving average price of $22.98 and a 200-day moving average price of $23.38. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 18.244 and a beta of 1.07. Sterling Bancorp has a 12-month low of $16.75 and a 12-month high of $25.85.
Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $126.88 million during the quarter, compared to the consensus estimate of $133.85 million. Sterling Bancorp had a return on equity of 8.62% and a net margin of 28.40%. On average, equities analysts expect that Sterling Bancorp will post $0.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, August 3rd. Sterling Bancorp’s dividend payout ratio is presently 23.33%.
A number of research firms have commented on STL. BidaskClub cut Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Maxim Group reiterated a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, July 26th. Zacks Investment Research cut Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. FBR & Co reiterated a “hold” rating on shares of Sterling Bancorp in a research note on Wednesday, April 26th. Finally, ValuEngine upgraded Sterling Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $27.07.
In other Sterling Bancorp news, Director Richard L. O’toole bought 4,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were bought at an average price of $22.60 per share, for a total transaction of $90,400.00. Following the transaction, the director now owns 21,291 shares of the company’s stock, valued at approximately $481,176.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig S. Thompson sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $21.62, for a total value of $43,240.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,500 shares of company stock valued at $241,925. 3.74% of the stock is owned by company insiders.
About Sterling Bancorp
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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