Sterling Bancorp (STL) Holding Lowered by Federated Investors Inc. PA

Sterling Bancorp (STL) Holding Lowered by Federated Investors Inc. PA

Federated Investors Inc. PA lowered its position in shares of Sterling Bancorp (NYSE:STL) by 73.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,843 shares of the financial services provider’s stock after selling 13,073 shares during the period. Federated Investors Inc. PA’s holdings in Sterling Bancorp were worth $113,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of STL. Strs Ohio boosted its stake in shares of Sterling Bancorp by 3.8% in the third quarter. Strs Ohio now owns 8,100 shares of the financial services provider’s stock worth $141,000 after buying an additional 300 shares in the last quarter. Aperio Group LLC raised its position in Sterling Bancorp by 2.2% in the third quarter. Aperio Group LLC now owns 14,520 shares of the financial services provider’s stock worth $254,000 after buying an additional 317 shares during the last quarter. BlackRock Inc. raised its position in Sterling Bancorp by 1.1% in the third quarter. BlackRock Inc. now owns 33,733 shares of the financial services provider’s stock worth $590,000 after buying an additional 370 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Sterling Bancorp by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 26,670 shares of the financial services provider’s stock worth $467,000 after buying an additional 430 shares during the last quarter. Finally, American International Group Inc. raised its position in Sterling Bancorp by 1.8% in the third quarter. American International Group Inc. now owns 94,935 shares of the financial services provider’s stock worth $1,661,000 after buying an additional 1,703 shares during the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

Shares of Sterling Bancorp (NYSE:STL) opened at 23.70 on Friday. Sterling Bancorp has a 12-month low of $14.55 and a 12-month high of $25.85. The company has a 50-day moving average price of $24.38 and a 200 day moving average price of $21.85. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 22.15 and a beta of 1.05.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Sterling Bancorp had a return on equity of 8.05% and a net margin of 26.28%. During the same period in the prior year, the company earned $0.26 earnings per share. Equities research analysts expect that Sterling Bancorp will post $0.69 earnings per share for the current fiscal year.

STL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research note on Monday, March 13th. Sandler O’Neill raised Sterling Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 9th. TheStreet raised Sterling Bancorp from a “c” rating to a “b-” rating in a research note on Tuesday, January 24th. Zacks Investment Research raised Sterling Bancorp from a “sell” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Saturday, January 28th. Finally, Hovde Group raised Sterling Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Wednesday, March 8th. Eight research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $26.58.

In related news, EVP James R. Peoples sold 10,874 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $24.41, for a total transaction of $265,434.34. Following the completion of the transaction, the executive vice president now directly owns 59,436 shares in the company, valued at $1,450,832.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas G. Kahn sold 23,945 shares of the stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $24.19, for a total value of $579,229.55. Following the transaction, the director now owns 44,648 shares of the company’s stock, valued at $1,080,035.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,794 shares of company stock valued at $3,317,321. 4.04% of the stock is owned by corporate insiders.

About Sterling Bancorp

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.

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