Barclays PLC Purchases 61,719 Shares of Sterling Bancorp (NYSE:STL)

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Barclays PLC grew its position in Sterling Bancorp (NYSE:STL) by 65.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,565 shares of the financial services provider’s stock after purchasing an additional 61,719 shares during the quarter. Barclays PLC owned approximately 0.08% of Sterling Bancorp worth $3,141,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Sterling Bancorp by 3.6% in the third quarter. Public Employees Retirement System of Ohio now owns 57,767 shares of the financial services provider’s stock valued at $1,159,000 after purchasing an additional 2,005 shares during the period. Circle Wealth Management LLC bought a new position in shares of Sterling Bancorp in the third quarter valued at approximately $1,237,000. Neo Ivy Capital Management bought a new position in shares of Sterling Bancorp in the third quarter valued at approximately $640,000. Tower Research Capital LLC TRC raised its position in shares of Sterling Bancorp by 118.5% in the third quarter. Tower Research Capital LLC TRC now owns 6,604 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 3,582 shares during the period. Finally, Monarch Partners Asset Management LLC raised its position in shares of Sterling Bancorp by 6.3% in the third quarter. Monarch Partners Asset Management LLC now owns 135,151 shares of the financial services provider’s stock valued at $2,711,000 after purchasing an additional 8,044 shares during the period. 84.22% of the stock is currently owned by institutional investors.

STL has been the topic of a number of research reports. ValuEngine raised shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Maxim Group set a $28.00 target price on shares of Sterling Bancorp and gave the stock a “buy” rating in a research report on Friday, October 25th. Stephens reaffirmed a “buy” rating and set a $24.50 target price on shares of Sterling Bancorp in a research report on Wednesday, November 6th. Finally, Zacks Investment Research raised shares of Sterling Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Sterling Bancorp presently has a consensus rating of “Buy” and a consensus target price of $25.36.

Shares of STL stock opened at $20.36 on Tuesday. Sterling Bancorp has a 1 year low of $15.62 and a 1 year high of $22.17. The firm’s fifty day simple moving average is $20.37 and its 200 day simple moving average is $20.28. The firm has a market capitalization of $4.13 billion, a P/E ratio of 10.18 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.74.

Sterling Bancorp (NYSE:STL) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). Sterling Bancorp had a return on equity of 10.12% and a net margin of 32.25%. The company had revenue of $259.76 million for the quarter, compared to the consensus estimate of $262.65 million. During the same period last year, the firm posted $0.51 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that Sterling Bancorp will post 2.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, November 1st. Sterling Bancorp’s dividend payout ratio (DPR) is currently 14.00%.

Sterling Bancorp Profile

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 checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

Read More: Understanding the Price to Earnings Ratio (PE)

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

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