Sapience Investments LLC raised its stake in Sterling Bancorp (NYSE:STL) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,445 shares of the financial services provider’s stock after purchasing an additional 11,400 shares during the period. Sterling Bancorp comprises 3.0% of Sapience Investments LLC’s investment portfolio, making the stock its 5th biggest position. Sapience Investments LLC owned approximately 0.40% of Sterling Bancorp worth $21,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in shares of Sterling Bancorp by 3.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 56,900 shares of the financial services provider’s stock valued at $1,400,000 after buying an additional 2,000 shares in the last quarter. Alpine Associates Management Inc. lifted its position in Sterling Bancorp by 1.8% in the 3rd quarter. Alpine Associates Management Inc. now owns 121,811 shares of the financial services provider’s stock valued at $3,003,000 after acquiring an additional 2,211 shares in the last quarter. Advisor Group Inc. lifted its position in Sterling Bancorp by 36.3% in the 4th quarter. Advisor Group Inc. now owns 12,159 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 3,238 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Sterling Bancorp by 82.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,845 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 3,554 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sterling Bancorp by 106.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,369 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 5,865 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors.
Shares of Sterling Bancorp (STL) opened at $25.40 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Bancorp has a 52-week low of $21.00 and a 52-week high of $26.50. The company has a market cap of $5,709.48, a PE ratio of 18.41 and a beta of 1.09.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.10%. Sterling Bancorp’s payout ratio is 36.36%.
Several equities research analysts recently commented on STL shares. JMP Securities started coverage on shares of Sterling Bancorp in a research report on Monday, November 20th. They issued a “market perform” rating and a $25.85 price objective on the stock. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Maxim Group boosted their price objective on shares of Sterling Bancorp from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Jefferies Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sterling Bancorp in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.50 price target on shares of Sterling Bancorp in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Sterling Bancorp has an average rating of “Hold” and a consensus price target of $29.19.
In other news, Director James F. Deutsch sold 200,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $25.22, for a total value of $5,044,000.00. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at approximately $12,610. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.74% of the stock is currently owned by corporate insiders.
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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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