491,687 Shares in Sterling Bancorp (STL) Acquired by Jane Street Group LLC
Jane Street Group LLC bought a new position in shares of Sterling Bancorp (NYSE:STL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 491,687 shares of the financial services provider’s stock, valued at approximately $11,555,000. Jane Street Group LLC owned 0.22% of Sterling Bancorp as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Sterling Bancorp in the second quarter valued at approximately $127,000. GWM Advisors LLC acquired a new stake in Sterling Bancorp in the first quarter valued at approximately $202,000. Mount Yale Investment Advisors LLC acquired a new stake in Sterling Bancorp in the first quarter valued at approximately $209,000. Canandaigua National Bank & Trust Co. acquired a new stake in Sterling Bancorp in the first quarter valued at approximately $211,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Sterling Bancorp in the second quarter valued at approximately $222,000. 92.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:STL opened at $22.15 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $5.01 billion, a PE ratio of 15.82 and a beta of 0.96. Sterling Bancorp has a 1 year low of $21.75 and a 1 year high of $25.65.
The company also recently declared a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Monday, August 6th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, August 3rd. Sterling Bancorp’s dividend payout ratio is presently 20.00%.
Several brokerages have commented on STL. ValuEngine lowered Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research lowered Sterling Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, Citigroup began coverage on Sterling Bancorp in a report on Monday, June 18th. They issued a “neutral” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.84.
In other news, Director Richard L. O’toole purchased 4,000 shares of the stock in a transaction dated Monday, August 13th. The shares were purchased at an average cost of $21.92 per share, with a total value of $87,680.00. Following the completion of the purchase, the director now directly owns 30,713 shares of the company’s stock, valued at approximately $673,228.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel James P. Blose sold 2,000 shares of Sterling Bancorp stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $22.25, for a total value of $44,500.00. Following the completion of the sale, the general counsel now directly owns 20,322 shares in the company, valued at $452,164.50. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
Sterling Bancorp Profile
Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.
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