First Bank & Trust boosted its position in shares of Sterling Bancorp (NYSE:STL) by 402.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,956 shares of the financial services provider’s stock after buying an additional 3,970 shares during the period. First Bank & Trust’s holdings in Sterling Bancorp were worth $115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sterling Bancorp by 51.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,089 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,735 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Sterling Bancorp by 33.5% in the first quarter. LS Investment Advisors LLC now owns 6,653 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,670 shares during the last quarter. World Asset Management Inc bought a new position in shares of Sterling Bancorp during the first quarter worth $203,000. Salem Investment Counselors Inc. raised its position in shares of Sterling Bancorp by 7,158.1% in the first quarter. Salem Investment Counselors Inc. now owns 9,000 shares of the financial services provider’s stock worth $746,000 after buying an additional 8,876 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Sterling Bancorp during the first quarter worth $214,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Sterling Bancorp (NYSE STL) opened at 22.60 on Tuesday. The firm has a 50-day moving average of $23.14 and a 200-day moving average of $23.41. Sterling Bancorp has a 52 week low of $16.73 and a 52 week high of $25.85. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 18.85 and a beta of 1.07.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $126.88 million during the quarter, compared to the consensus estimate of $133.85 million. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. Equities analysts forecast that Sterling Bancorp will post $0.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, August 3rd. Sterling Bancorp’s dividend payout ratio (DPR) is 23.33%.

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STL has been the topic of a number of research reports. FBR & Co initiated coverage on shares of Sterling Bancorp in a research note on Tuesday, April 11th. They issued a “mkt perform” rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research note on Wednesday, April 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Sterling Bancorp in a research note on Friday, May 19th. ValuEngine raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 20th. Finally, Zacks Investment Research lowered shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. Sterling Bancorp presently has a consensus rating of “Buy” and a consensus price target of $27.07.

In other news, Director Craig S. Thompson sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $21.62, for a total transaction of $43,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig S. Thompson sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $22.75, for a total transaction of $79,625.00. Following the sale, the director now directly owns 225,395 shares of the company’s stock, valued at approximately $5,127,736.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,500 shares of company stock valued at $241,925. Insiders own 3.74% of the company’s stock.

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

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