Philadelphia Financial Management of San Francisco LLC acquired a new stake in Sterling Bancorp Inc (NASDAQ:SBT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,248,397 shares of the company’s stock, valued at approximately $15,855,000. Sterling Bancorp accounts for about 2.3% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 19th biggest holding. Philadelphia Financial Management of San Francisco LLC owned 2.36% of Sterling Bancorp at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Sterling Bancorp during the 4th quarter worth approximately $411,000. Quantitative Systematic Strategies LLC acquired a new stake in Sterling Bancorp during the 4th quarter worth approximately $550,000. River Oaks Capital LLC acquired a new stake in Sterling Bancorp during the 4th quarter worth approximately $928,000. Penn Capital Management Co. Inc. acquired a new stake in Sterling Bancorp in the fourth quarter valued at approximately $1,290,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Sterling Bancorp in the fourth quarter valued at approximately $1,607,000. Institutional investors own 28.79% of the company’s stock.
Separately, Sandler O’Neill reaffirmed a “buy” rating and issued a $14.50 price objective on shares of Sterling Bancorp in a research report on Wednesday, January 3rd.
Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $29.74 million for the quarter.
The business also recently announced a special dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.01 dividend. This represents a yield of 0.000800640512409928%. The ex-dividend date was Tuesday, February 13th.
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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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