Sterling Bancorp (STL) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in shares of Sterling Bancorp (NYSE:STL) by 90.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,447 shares of the financial services provider’s stock after purchasing an additional 34,028 shares during the period. Allianz Asset Management GmbH’s holdings in Sterling Bancorp were worth $1,761,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Quantitative Systematic Strategies LLC raised its stake in Sterling Bancorp by 180.4% during the third quarter. Quantitative Systematic Strategies LLC now owns 88,234 shares of the financial services provider’s stock worth $2,175,000 after acquiring an additional 56,763 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Sterling Bancorp in the third quarter valued at approximately $617,000. Advantus Capital Management Inc acquired a new stake in shares of Sterling Bancorp in the third quarter valued at approximately $493,000. Legal & General Group Plc increased its stake in shares of Sterling Bancorp by 11.8% in the second quarter. Legal & General Group Plc now owns 262,495 shares of the financial services provider’s stock valued at $6,105,000 after purchasing an additional 27,635 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of Sterling Bancorp by 139.6% in the third quarter. LS Investment Advisors LLC now owns 15,939 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 9,286 shares during the period. 91.70% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on STL. Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, October 11th. Royal Bank of Canada dropped their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price target on shares of Sterling Bancorp in a research note on Thursday, October 12th. Maxim Group restated a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, October 25th. Finally, JMP Securities began coverage on shares of Sterling Bancorp in a research note on Monday, November 20th. They issued a “market perform” rating and a $25.85 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $27.48.

In related news, EVP Michael E. Finn sold 4,535 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $24.05, for a total transaction of $109,066.75. Following the completion of the sale, the executive vice president now directly owns 35,288 shares in the company, valued at $848,676.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jack L. Kopnisky sold 54,100 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $24.71, for a total transaction of $1,336,811.00. Following the sale, the chief executive officer now owns 231,765 shares of the company’s stock, valued at $5,726,913.15. The disclosure for this sale can be found here. Insiders sold 753,635 shares of company stock valued at $18,727,028 over the last quarter. Insiders own 3.74% of the company’s stock.

Sterling Bancorp (NYSE STL) opened at $25.60 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.76. The stock has a market cap of $5,752.50, a P/E ratio of 19.84 and a beta of 1.04. Sterling Bancorp has a 1-year low of $21.00 and a 1-year high of $26.50.

Sterling Bancorp (NYSE:STL) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $134.06 million during the quarter, compared to the consensus estimate of $135.09 million. Sterling Bancorp had a net margin of 28.58% and a return on equity of 9.08%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. analysts anticipate that Sterling Bancorp will post 1.39 EPS for the current fiscal year.

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Sterling Bancorp Profile

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.

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

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