Millennium Management LLC Raises Position in Sterling Bancorp (SBT)
Millennium Management LLC raised its stake in shares of Sterling Bancorp (NASDAQ:SBT) by 9.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 495,151 shares of the company’s stock after acquiring an additional 44,289 shares during the quarter. Millennium Management LLC owned approximately 0.93% of Sterling Bancorp worth $6,615,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund bought a new position in shares of Sterling Bancorp during the first quarter valued at $127,000. Engineers Gate Manager LP bought a new position in shares of Sterling Bancorp during the second quarter valued at $142,000. American International Group Inc. bought a new position in shares of Sterling Bancorp during the first quarter valued at $151,000. GSA Capital Partners LLP bought a new position in shares of Sterling Bancorp during the second quarter valued at $164,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Sterling Bancorp during the second quarter valued at $174,000. 30.67% of the stock is owned by institutional investors.
Shares of NASDAQ SBT opened at $10.90 on Friday. Sterling Bancorp has a 52-week low of $10.28 and a 52-week high of $14.98. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 1.36.
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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