Sterling Bancorp’s (SBT) Buy Rating Reiterated at Sandler O’Neill

Sterling Bancorp (NASDAQ:SBT)‘s stock had its “buy” rating reissued by analysts at Sandler O’Neill in a research note issued to investors on Wednesday. They presently have a $14.50 price target on the stock. Sandler O’Neill’s price target suggests a potential upside of 12.49% from the stock’s previous close.

Sterling Bancorp (NASDAQ:SBT) traded up $0.03 on Wednesday, reaching $12.89. The company’s stock had a trading volume of 192,076 shares, compared to its average volume of 146,038. Sterling Bancorp has a 12-month low of $12.00 and a 12-month high of $13.79.

In other news, CFO Thomas W. Jr. Lopp acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were bought at an average price of $12.00 per share, with a total value of $84,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Gary S. Judd acquired 7,600 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average cost of $12.00 per share, for a total transaction of $91,200.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 24,600 shares of company stock worth $295,200 and have sold 2,305,855 shares worth $27,670,260.

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About Sterling Bancorp

Sterling Bancorp, Inc is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.

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