Russell Investments Group Ltd. trimmed its position in shares of Sterling Bancorp (NYSE:STL) by 48.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,310 shares of the financial services provider’s stock after selling 193,729 shares during the period. Russell Investments Group Ltd.’s holdings in Sterling Bancorp were worth $4,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of STL. Diamond Hill Capital Management Inc. boosted its stake in Sterling Bancorp by 189.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,136,987 shares of the financial services provider’s stock valued at $50,219,000 after purchasing an additional 1,397,573 shares during the period. Maltese Capital Management LLC boosted its stake in Sterling Bancorp by 97.7% during the 1st quarter. Maltese Capital Management LLC now owns 1,285,228 shares of the financial services provider’s stock valued at $28,982,000 after purchasing an additional 635,072 shares during the period. KBC Group NV acquired a new position in Sterling Bancorp during the 2nd quarter valued at about $10,410,000. BlackRock Inc. boosted its stake in Sterling Bancorp by 1.7% during the 1st quarter. BlackRock Inc. now owns 23,906,510 shares of the financial services provider’s stock valued at $539,091,000 after purchasing an additional 390,440 shares during the period. Finally, LMR Partners LLP acquired a new position in Sterling Bancorp during the 2nd quarter valued at about $7,250,000. 92.12% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Richard L. O’toole purchased 4,000 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were bought at an average cost of $22.93 per share, for a total transaction of $91,720.00. Following the transaction, the director now owns 26,713 shares of the company’s stock, valued at $612,529.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel James P. Blose sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $22.25, for a total transaction of $44,500.00. Following the sale, the general counsel now owns 20,322 shares in the company, valued at $452,164.50. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

A number of research firms have issued reports on STL. ValuEngine raised shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Zacks Investment Research raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. Finally, Citigroup began coverage on shares of Sterling Bancorp in a research note on Monday, June 18th. They set a “neutral” rating and a $27.00 target price for the company. 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 stock. The stock currently has an average rating of “Hold” and an average target price of $29.84.

STL stock opened at $22.20 on Friday. Sterling Bancorp has a 52 week low of $21.75 and a 52 week high of $25.65. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 15.86 and a beta of 0.96. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.01.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Sterling Bancorp had a net margin of 20.19% and a return on equity of 9.67%. The company had revenue of $276.81 million for the quarter, compared to the consensus estimate of $272.26 million. During the same period in the previous year, the firm earned $0.33 EPS. Sterling Bancorp’s revenue was up 110.8% on a year-over-year basis. research analysts expect that Sterling Bancorp will post 1.98 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.26%. Sterling Bancorp’s dividend payout ratio (DPR) is 20.00%.

About Sterling Bancorp

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

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