Sterling Bancorp Inc (SBT) Plans Special Dividend of $0.01

Sterling Bancorp Inc (NASDAQ:SBT) declared a special dividend on Thursday, February 1st, Wall Street Journal reports. Shareholders of record on Wednesday, February 14th will be paid a dividend of 0.01 per share on Wednesday, February 28th. This represents a yield of 0.000800640512409928%. The ex-dividend date is Tuesday, February 13th.

Shares of Sterling Bancorp (NASDAQ:SBT) traded down $0.20 during midday trading on Thursday, reaching $12.49. The company’s stock had a trading volume of 151,817 shares, compared to its average volume of 100,555. Sterling Bancorp has a 1 year low of $12.00 and a 1 year high of $14.01.

Separately, Sandler O’Neill restated a “buy” rating and set a $14.50 price objective on shares of Sterling Bancorp in a report on Wednesday, January 3rd.

In other news, Director Seth S. Meltzer sold 304,933 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $12.00, for a total transaction of $3,659,196.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas W. Jr. Lopp acquired 7,000 shares of Sterling Bancorp stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average price of $12.00 per share, with a total value of $84,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 24,600 shares of company stock valued at $295,200 and have sold 2,305,855 shares valued at $27,670,260.

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Sterling Bancorp Company Profile

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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