SOA Wealth Advisors LLC. Takes $66,000 Position in Sterling Bancorp (NYSE:STL)


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SOA Wealth Advisors LLC. acquired a new stake in shares of Sterling Bancorp (NYSE:STL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,263 shares of the financial services provider’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its position in Sterling Bancorp by 45.7% in the fourth quarter. Captrust Financial Advisors now owns 2,315 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 726 shares during the last quarter. Private Capital Group LLC purchased a new position in Sterling Bancorp in the fourth quarter worth $44,000. CWM LLC purchased a new position in Sterling Bancorp in the fourth quarter worth $46,000. Alpha DNA Investment Management LLC purchased a new position in shares of Sterling Bancorp during the 4th quarter valued at $72,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Sterling Bancorp during the 4th quarter valued at $77,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

In other news, insider Thomas X. Geisel sold 8,452 shares of the stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $22.72, for a total value of $192,029.44. Also, insider Javier L. Evan sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $23.84, for a total value of $71,520.00. Following the completion of the transaction, the insider now directly owns 27,104 shares of the company’s stock, valued at approximately $646,159.36. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

A number of brokerages have recently commented on STL. B. Riley upped their price target on Sterling Bancorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 7th. Hovde Group raised Sterling Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the company from $18.00 to $24.00 in a research report on Friday, January 22nd. TheStreet upgraded Sterling Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, December 28th. Royal Bank of Canada boosted their price objective on Sterling Bancorp from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Finally, Zacks Investment Research upgraded Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, March 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.57.

Shares of STL stock opened at $23.15 on Thursday. The stock has a market capitalization of $4.48 billion, a PE ratio of 18.37 and a beta of 1.68. Sterling Bancorp has a 1-year low of $8.99 and a 1-year high of $26.36. The business has a 50-day moving average of $23.07 and a 200 day moving average of $17.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.93 and a quick ratio of 0.93.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, January 19th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Sterling Bancorp had a return on equity of 5.83% and a net margin of 21.32%. The company had revenue of $256.07 million during the quarter, compared to analysts’ expectations of $247.27 million. During the same period in the prior year, the business posted $0.54 EPS. Sterling Bancorp’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Sterling Bancorp will post 1.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 16th. Shareholders of record on Monday, February 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, January 29th. Sterling Bancorp’s dividend payout ratio (DPR) is currently 13.53%.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including interest and non-interest checking, savings, money market, time, and demand deposits, as well as certificates of deposit.

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

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