Sterling Bancorp (SBT) Earns Buy Rating from Analysts at Sandler O’Neill

Sandler O’Neill started coverage on shares of Sterling Bancorp (NASDAQ:SBT) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $14.00 target price on the stock.

Sterling Bancorp (NASDAQ:SBT) opened at $12.62 on Thursday. The company has a market cap of $665.76 and a price-to-earnings ratio of 17.77. Sterling Bancorp has a twelve month low of $12.00 and a twelve month high of $13.79.

In other news, Director Seth S. Meltzer sold 304,933 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $12.00, for a total transaction of $3,659,196.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael A. Montemayor acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were bought at an average price of $12.00 per share, for a total transaction of $120,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 24,600 shares of company stock worth $295,200 and sold 2,305,855 shares worth $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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