Stifel Financial Corp boosted its stake in shares of Sterling Bancorp (NYSE:STL) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,581 shares of the financial services provider’s stock after buying an additional 9,996 shares during the quarter. Stifel Financial Corp owned 0.09% of Sterling Bancorp worth $5,164,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC boosted its stake in Sterling Bancorp by 180.4% during the third quarter. Quantitative Systematic Strategies LLC now owns 88,234 shares of the financial services provider’s stock worth $2,175,000 after buying an additional 56,763 shares during the period. Advantus Capital Management Inc purchased a new position in shares of Sterling Bancorp in the third quarter valued at approximately $493,000. Crossmark Global Holdings Inc. purchased a new position in shares of Sterling Bancorp in the third quarter valued at approximately $617,000. Legal & General Group Plc boosted its stake in shares of Sterling Bancorp by 11.8% in the second quarter. Legal & General Group Plc now owns 262,495 shares of the financial services provider’s stock valued at $6,105,000 after purchasing an additional 27,635 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in shares of Sterling Bancorp by 139.6% in the third quarter. LS Investment Advisors LLC now owns 15,939 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 9,286 shares during the period. 91.70% of the stock is owned by institutional investors.

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $29.00 price objective on shares of Sterling Bancorp in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, September 8th. Royal Bank of Canada lowered their price objective 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. Maxim Group reissued a “buy” rating and issued a $30.00 price objective on shares of Sterling Bancorp in a research note on Wednesday, October 25th. Finally, ValuEngine lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Sterling Bancorp currently has an average rating of “Buy” and an average price target of $27.48.

In related news, Director James F. Deutsch sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $25.31, for a total value of $7,593,000.00. Following the sale, the director now owns 500 shares of the company’s stock, valued at $12,655. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jack L. Kopnisky sold 54,100 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $24.71, for a total transaction of $1,336,811.00. Following the completion of the sale, the chief executive officer now directly owns 231,765 shares in the company, valued at approximately $5,726,913.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 754,135 shares of company stock worth $18,738,583. 3.74% of the stock is owned by corporate insiders.

Shares of Sterling Bancorp (STL) opened at $25.40 on Friday. The firm has a market cap of $5,840.00, a P/E ratio of 19.26 and a beta of 1.04. Sterling Bancorp has a 1-year low of $21.00 and a 1-year high of $26.50. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.76.

Sterling Bancorp (NYSE:STL) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $134.06 million during the quarter, compared to analyst estimates of $135.09 million. Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. equities analysts forecast that Sterling Bancorp will post 1.39 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were issued a $0.07 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.28 annualized dividend and a yield of 1.10%. Sterling Bancorp’s dividend payout ratio (DPR) is 22.58%.

TRADEMARK VIOLATION NOTICE: This article was first posted by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/sterling-bancorp-stl-shares-bought-by-stifel-financial-corp/1767829.html.

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)

Receive News & Ratings for Sterling Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.