Sterling Bancorp (NASDAQ:SBT) Stock Price Up 2.4% – Here’s What Happened

Sterling Bancorp (NASDAQ:SBT)’s share price traded up 2.4% on Wednesday . The company traded as high as $4.83 and last traded at $4.83. 26,271 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 37,635 shares. The stock had previously closed at $4.72.

Sterling Bancorp Stock Performance

The company has a 50 day moving average of $4.73 and a two-hundred day moving average of $5.12. The stock has a market capitalization of $252.66 million, a PE ratio of 37.16 and a beta of 0.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Sterling Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,461,987 shares of the company’s stock worth $7,544,000 after acquiring an additional 8,077 shares during the period. BNP Paribas Financial Markets lifted its holdings in Sterling Bancorp by 883.5% during the first quarter. BNP Paribas Financial Markets now owns 74,696 shares of the company’s stock valued at $385,000 after purchasing an additional 67,101 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Sterling Bancorp by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock valued at $466,000 after purchasing an additional 2,357 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sterling Bancorp by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 895,976 shares of the company’s stock worth $4,685,000 after purchasing an additional 66,148 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Sterling Bancorp by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 229,474 shares of the company’s stock valued at $1,200,000 after buying an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors own 26.37% of the company’s stock.

About Sterling Bancorp

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.