Kennedy Capital Management Inc. Sells 8,995 Shares of Sterling Bancorp (NYSE:STL)

Kennedy Capital Management Inc. decreased its holdings in Sterling Bancorp (NYSE:STL) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 871,672 shares of the financial services provider’s stock after selling 8,995 shares during the quarter. Kennedy Capital Management Inc. owned 0.42% of Sterling Bancorp worth $16,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential PLC lifted its position in Sterling Bancorp by 25.5% in the 4th quarter. Prudential PLC now owns 1,009,700 shares of the financial services provider’s stock valued at $16,670,000 after acquiring an additional 205,400 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Sterling Bancorp by 3.5% during the 4th quarter. Texas Permanent School Fund now owns 146,863 shares of the financial services provider’s stock worth $2,425,000 after buying an additional 4,992 shares in the last quarter. Context BH Capital Management LP lifted its position in shares of Sterling Bancorp by 344.4% during the 4th quarter. Context BH Capital Management LP now owns 374,712 shares of the financial services provider’s stock worth $6,186,000 after buying an additional 290,391 shares in the last quarter. Strs Ohio bought a new position in shares of Sterling Bancorp during the 1st quarter worth approximately $357,000. Finally, Arizona State Retirement System lifted its position in shares of Sterling Bancorp by 0.6% during the 4th quarter. Arizona State Retirement System now owns 161,081 shares of the financial services provider’s stock worth $2,659,000 after buying an additional 981 shares in the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Javier L. Evan sold 1,533 shares of Sterling Bancorp stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.60, for a total value of $31,579.80. Following the completion of the transaction, the insider now directly owns 24,168 shares in the company, valued at approximately $497,860.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack L. Kopnisky sold 75,000 shares of Sterling Bancorp stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $21.44, for a total transaction of $1,608,000.00. Following the completion of the transaction, the chief executive officer now owns 545,790 shares of the company’s stock, valued at $11,701,737.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,396 shares of company stock valued at $3,043,774. 1.67% of the stock is currently owned by company insiders.

STL has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. ValuEngine raised shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Finally, FIG Partners reissued an “outperform” rating on shares of Sterling Bancorp in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $25.25.

Shares of STL stock traded up $0.34 during trading hours on Friday, hitting $21.28. 2,259,100 shares of the company were exchanged, compared to its average volume of 2,411,890. The company’s fifty day moving average price is $20.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.97 and a quick ratio of 0.95. Sterling Bancorp has a 52-week low of $15.62 and a 52-week high of $24.65. The firm has a market cap of $4.31 billion, a PE ratio of 10.64 and a beta of 1.33.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Sterling Bancorp had a net margin of 33.40% and a return on equity of 10.57%. The company had revenue of $263.90 million during the quarter, compared to analyst estimates of $262.59 million. During the same quarter last year, the business posted $0.45 EPS. Sterling Bancorp’s quarterly revenue was up .5% compared to the same quarter last year. Research analysts forecast that Sterling Bancorp will post 2.12 EPS for the current fiscal year.

About Sterling Bancorp

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking products and services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, including checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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Institutional Ownership by Quarter for Sterling Bancorp (NYSE:STL)

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