Parametric Portfolio Associates LLC grew its stake in Sterling Bancorp (NYSE:STL) by 28.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 289,320 shares of the financial services provider’s stock after purchasing an additional 64,629 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.21% of Sterling Bancorp worth $6,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of STL. First Bank & Trust raised its holdings in Sterling Bancorp by 402.6% in the 2nd quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 3,970 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Sterling Bancorp by 70.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 2,119 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sterling Bancorp by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 415 shares in the last quarter. M&T Bank Corp bought a new position in Sterling Bancorp in the 2nd quarter worth $205,000. Finally, World Asset Management Inc raised its holdings in Sterling Bancorp by 3.0% in the 2nd quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.

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In other news, Director Burt Steinberg bought 10,000 shares of Sterling Bancorp stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $21.88 per share, for a total transaction of $218,800.00. Following the completion of the acquisition, the director now owns 135,146 shares of the company’s stock, valued at approximately $2,956,994.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. O’toole bought 4,000 shares of Sterling Bancorp stock in a transaction on Thursday, July 27th. The stock was purchased at an average price of $22.60 per share, with a total value of $90,400.00. Following the completion of the acquisition, the director now directly owns 21,291 shares of the company’s stock, valued at approximately $481,176.60. The disclosure for this purchase can be found here. Insiders own 3.74% of the company’s stock.

Shares of Sterling Bancorp (NYSE STL) opened at 24.40 on Friday. Sterling Bancorp has a 1-year low of $16.75 and a 1-year high of $25.85. The firm’s 50-day moving average is $23.57 and its 200-day moving average is $23.02. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 20.35 and a beta of 1.07.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.33. The business had revenue of $126.88 million during the quarter, compared to the consensus estimate of $133.85 million. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. Analysts forecast that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.

Several research analysts recently issued reports on STL shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Saturday, September 16th. BidaskClub lowered shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada decreased their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Sterling Bancorp currently has a consensus rating of “Buy” and an average price target of $27.69.

Sterling Bancorp 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.

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

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