Basswood Capital Management L.L.C. Reduces Holdings in Sterling Bancorp (SBT)

Basswood Capital Management L.L.C. reduced its position in Sterling Bancorp (NASDAQ:SBT) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,371,801 shares of the company’s stock after selling 45,556 shares during the quarter. Sterling Bancorp makes up approximately 1.4% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 19th biggest position. Basswood Capital Management L.L.C. owned 6.36% of Sterling Bancorp worth $23,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Sterling Bancorp by 22.4% during the third quarter. BlackRock Inc. now owns 1,078,931 shares of the company’s stock worth $12,202,000 after buying an additional 197,507 shares in the last quarter. River Oaks Capital LLC grew its position in shares of Sterling Bancorp by 7.9% during the third quarter. River Oaks Capital LLC now owns 163,257 shares of the company’s stock worth $1,846,000 after buying an additional 11,957 shares in the last quarter. Vanguard Group Inc grew its position in shares of Sterling Bancorp by 1.9% during the third quarter. Vanguard Group Inc now owns 718,446 shares of the company’s stock worth $8,125,000 after buying an additional 13,430 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Sterling Bancorp by 10.6% during the third quarter. TIAA CREF Investment Management LLC now owns 52,419 shares of the company’s stock worth $593,000 after buying an additional 5,021 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Sterling Bancorp during the third quarter worth about $183,000. 30.68% of the stock is owned by institutional investors.

Separately, ValuEngine downgraded Sterling Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd.

Shares of Sterling Bancorp stock opened at $10.02 on Friday. Sterling Bancorp has a one year low of $6.65 and a one year high of $14.73. The stock has a market cap of $525.88 million, a PE ratio of 8.27 and a beta of 1.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.21 and a quick ratio of 1.16.

Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Monday, January 28th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. Sterling Bancorp had a return on equity of 20.88% and a net margin of 34.53%. The business had revenue of $36.72 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Friday, February 22nd were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, February 21st.

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Sterling Bancorp Company 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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Institutional Ownership by Quarter for Sterling Bancorp (NASDAQ:SBT)

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