Sterling Bancorp (NASDAQ:SBT) Trading Up 4%

Sterling Bancorp (NASDAQ:SBT)’s stock price rose 4% during mid-day trading on Thursday . The company traded as high as $5.86 and last traded at $5.75. Approximately 21,904 shares changed hands during trading, a decline of 41% from the average daily volume of 37,328 shares. The stock had previously closed at $5.53.

Sterling Bancorp Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $5.34 and its 200 day moving average is $5.14. The company has a market cap of $298.63 million, a PE ratio of 35.88 and a beta of 0.54.

Sterling Bancorp (NASDAQ:SBT) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.03 earnings per share for the quarter. Sterling Bancorp had a net margin of 4.84% and a return on equity of 2.01%. The firm had revenue of $34.28 million during the quarter.

Hedge Funds Weigh In On Sterling Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Koss Olinger Consulting LLC acquired a new position in shares of Sterling Bancorp during the 1st quarter valued at about $68,000. SG Americas Securities LLC purchased a new stake in shares of Sterling Bancorp in the 4th quarter valued at approximately $69,000. Princeton Capital Management LLC increased its holdings in shares of Sterling Bancorp by 60.6% during the 2nd quarter. Princeton Capital Management LLC now owns 26,511 shares of the company’s stock worth $139,000 after buying an additional 10,000 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Sterling Bancorp by 883.5% during the 1st quarter. BNP Paribas Financial Markets now owns 74,696 shares of the company’s stock valued at $385,000 after buying an additional 67,101 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Sterling Bancorp by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock valued at $466,000 after acquiring an additional 2,357 shares during the last quarter. Hedge funds and other institutional investors own 26.37% of the company’s stock.

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.