Sterling Bancorp (SBT) Given Buy Rating at Sandler O’Neill
Sterling Bancorp (NASDAQ:SBT)‘s stock had its “buy” rating reissued by Sandler O’Neill in a report issued on Wednesday. They presently have a $14.50 price target on the stock. Sandler O’Neill’s price target indicates a potential upside of 12.75% from the stock’s previous close.
Shares of Sterling Bancorp (NASDAQ:SBT) traded up $0.16 during midday trading on Wednesday, reaching $12.86. The company’s stock had a trading volume of 100,000 shares, compared to its average volume of 71,600. Sterling Bancorp has a 52-week low of $12.00 and a 52-week high of $13.79.
In other Sterling Bancorp news, CFO Thomas W. Jr. Lopp purchased 7,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $12.00 per share, with a total value of $84,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Gary S. Judd purchased 7,600 shares of the stock in a transaction dated Tuesday, November 21st. The shares were acquired at an average cost of $12.00 per share, with a total value of $91,200.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 24,600 shares of company stock valued at $295,200 and sold 2,305,855 shares valued at $27,670,260.
About Sterling Bancorp
Sterling Bancorp, Inc is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.
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