First Trust Advisors LP Boosts Stake in Sterling Bancorp (NASDAQ:SBT)

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First Trust Advisors LP grew its holdings in shares of Sterling Bancorp (NASDAQ:SBT) by 71.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,753 shares of the company’s stock after acquiring an additional 26,646 shares during the period. First Trust Advisors LP owned about 0.13% of Sterling Bancorp worth $622,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Mackay Shields LLC increased its stake in shares of Sterling Bancorp by 10.8% in the third quarter. Mackay Shields LLC now owns 77,822 shares of the company’s stock worth $760,000 after buying an additional 7,600 shares during the last quarter. Strs Ohio grew its holdings in Sterling Bancorp by 50.0% during the 3rd quarter. Strs Ohio now owns 7,500 shares of the company’s stock worth $73,000 after acquiring an additional 2,500 shares in the last quarter. Banc Funds Co. LLC increased its position in shares of Sterling Bancorp by 3.6% in the 2nd quarter. Banc Funds Co. LLC now owns 583,100 shares of the company’s stock worth $5,814,000 after purchasing an additional 20,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Sterling Bancorp by 45.1% in the 2nd quarter. Renaissance Technologies LLC now owns 150,200 shares of the company’s stock worth $1,497,000 after purchasing an additional 46,700 shares during the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Sterling Bancorp by 142.0% in the 3rd quarter. Denali Advisors LLC now owns 106,869 shares of the company’s stock valued at $1,043,000 after purchasing an additional 62,705 shares in the last quarter. Institutional investors own 28.31% of the company’s stock.

Several brokerages have recently commented on SBT. Sandler O’Neill cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating and set a $10.50 price target on the stock. in a research report on Monday, November 25th. Zacks Investment Research raised Sterling Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. TheStreet upgraded Sterling Bancorp from a “d+” rating to a “c” rating in a research note on Monday, August 26th. Finally, ValuEngine downgraded Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $11.83.

Sterling Bancorp stock opened at $9.50 on Wednesday. The company has a market cap of $486.47 million, a PE ratio of 7.92 and a beta of 1.32. The company has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $9.79. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.16 and a quick ratio of 1.16. Sterling Bancorp has a 12 month low of $6.65 and a 12 month high of $10.78.

Sterling Bancorp (NASDAQ:SBT) last released its earnings results on Monday, October 28th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Sterling Bancorp had a net margin of 31.01% and a return on equity of 17.26%. The firm had revenue of $33.18 million during the quarter, compared to analyst estimates of $34.40 million. Equities research analysts anticipate that Sterling Bancorp will post 1.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 25th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, November 22nd. Sterling Bancorp’s dividend payout ratio is presently 3.33%.

Sterling Bancorp Profile

Sterling Bancorp, Inc is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.

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Institutional Ownership by Quarter for Sterling Bancorp (NASDAQ:SBT)

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