Alpha DNA Investment Management LLC Makes New Investment in Sterling Bancorp (NYSE:STL)

Alpha DNA Investment Management LLC bought a new position in shares of Sterling Bancorp (NYSE:STL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,013 shares of the financial services provider’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds have also bought and sold shares of STL. Captrust Financial Advisors grew its holdings in Sterling Bancorp by 45.7% during the 4th quarter. Captrust Financial Advisors now owns 2,315 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 726 shares during the last quarter. Private Capital Group LLC bought a new stake in Sterling Bancorp during the 4th quarter worth approximately $44,000. CWM LLC bought a new stake in Sterling Bancorp during the 4th quarter worth approximately $46,000. SOA Wealth Advisors LLC. bought a new stake in Sterling Bancorp during the 4th quarter worth approximately $66,000. Finally, International Assets Investment Management LLC bought a new stake in Sterling Bancorp during the 4th quarter worth approximately $77,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

NYSE STL opened at $23.15 on Thursday. Sterling Bancorp has a 1 year low of $8.99 and a 1 year high of $26.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 18.37 and a beta of 1.68. The company has a fifty day moving average price of $23.07 and a 200-day moving average price of $17.92.

Sterling Bancorp (NYSE:STL) last posted its earnings results on Tuesday, January 19th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. Sterling Bancorp had a net margin of 21.32% and a return on equity of 5.83%. The firm had revenue of $256.07 million during the quarter, compared to analyst estimates of $247.27 million. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Sterling Bancorp will post 1.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Monday, February 1st were given a dividend of $0.07 per share. The ex-dividend date was Friday, January 29th. This represents a $0.28 annualized dividend and a yield of 1.21%. Sterling Bancorp’s payout ratio is currently 13.53%.

A number of research firms have weighed in on STL. Hovde Group raised shares of Sterling Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $24.00 in a report on Friday, January 22nd. B. Riley boosted their price target on shares of Sterling Bancorp from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Royal Bank of Canada boosted their target price on shares of Sterling Bancorp from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 22nd. TheStreet upgraded shares of Sterling Bancorp from a “c+” rating to a “b-” rating in a research report on Monday, December 28th. Finally, Zacks Investment Research upgraded shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, March 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Sterling Bancorp currently has an average rating of “Buy” and an average target price of $22.57.

In other Sterling Bancorp news, insider Thomas X. Geisel sold 8,452 shares of the stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $22.72, for a total transaction of $192,029.44. Also, insider Javier L. Evan sold 3,000 shares of the stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $23.84, for a total transaction of $71,520.00. Following the transaction, the insider now owns 27,104 shares of the company’s stock, valued at approximately $646,159.36. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

Sterling Bancorp Profile

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 interest and non-interest checking, savings, money market, time, and demand deposits, as well as certificates of deposit.

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

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