Short Interest in Sterling Bancorp (NASDAQ:SBT) Declines By 20.2%

Sterling Bancorp (NASDAQ:SBT) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 177,800 shares, a decrease of 20.2% from the August 15th total of 222,800 shares. Based on an average trading volume of 36,100 shares, the short-interest ratio is presently 4.9 days. Approximately 1.0% of the shares of the stock are short sold.

Institutional Trading of Sterling Bancorp

Several large investors have recently modified their holdings of the business. Koss Olinger Consulting LLC purchased a new position in shares of Sterling Bancorp during the 1st quarter worth $68,000. Princeton Capital Management LLC boosted its position in shares of Sterling Bancorp by 60.6% in the second quarter. Princeton Capital Management LLC now owns 26,511 shares of the company’s stock worth $139,000 after acquiring an additional 10,000 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Sterling Bancorp by 883.5% in the first quarter. BNP Paribas Financial Markets now owns 74,696 shares of the company’s stock valued at $385,000 after purchasing an additional 67,101 shares during the period. Bank of New York Mellon Corp increased its position in Sterling Bancorp by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock worth $466,000 after purchasing an additional 2,357 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Sterling Bancorp by 5.0% during the second quarter. Renaissance Technologies LLC now owns 229,474 shares of the company’s stock worth $1,200,000 after purchasing an additional 11,000 shares during the period. 26.37% of the stock is currently owned by institutional investors and hedge funds.

Sterling Bancorp Stock Performance

SBT stock traded down $0.03 during midday trading on Tuesday, hitting $4.63. 2,484 shares of the stock were exchanged, compared to its average volume of 37,579. The stock’s 50-day moving average price is $5.64 and its 200-day moving average price is $5.21. The stock has a market cap of $240.88 million, a price-to-earnings ratio of 29.13 and a beta of 0.53. Sterling Bancorp has a fifty-two week low of $4.55 and a fifty-two week high of $6.14.

Sterling Bancorp (NASDAQ:SBT) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.03 EPS for the quarter. Sterling Bancorp had a net margin of 4.84% and a return on equity of 2.00%. The business had revenue of $34.28 million for the quarter.

About Sterling Bancorp

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.