Retirement Systems of Alabama Has $11.10 Million Position in Sterling Bancorp (STL)

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Retirement Systems of Alabama lessened its holdings in Sterling Bancorp (NYSE:STL) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 595,890 shares of the financial services provider’s stock after selling 14,107 shares during the period. Retirement Systems of Alabama owned about 0.28% of Sterling Bancorp worth $11,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Sterling Bancorp by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 89,795 shares of the financial services provider’s stock worth $1,483,000 after acquiring an additional 764 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Sterling Bancorp by 4.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 19,978 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 820 shares in the last quarter. Arizona State Retirement System grew its position in Sterling Bancorp by 0.6% in the 4th quarter. Arizona State Retirement System now owns 161,081 shares of the financial services provider’s stock worth $2,659,000 after purchasing an additional 981 shares in the last quarter. First Bank & Trust grew its position in Sterling Bancorp by 12.4% in the 4th quarter. First Bank & Trust now owns 10,339 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Ramsey Quantitative Systems grew its position in Sterling Bancorp by 9.8% in the 4th quarter. Ramsey Quantitative Systems now owns 13,559 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 1,210 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

In other news, insider Brian T. Edwards sold 9,855 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $20.19, for a total transaction of $198,972.45. Following the completion of the transaction, the insider now directly owns 98,050 shares of the company’s stock, valued at approximately $1,979,629.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James J. Landy sold 55,000 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $19.36, for a total transaction of $1,064,800.00. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. ValuEngine raised shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Maxim Group reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Sterling Bancorp in a research report on Thursday, January 24th. Finally, TheStreet downgraded shares of Sterling Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.60.

Shares of STL stock opened at $20.25 on Friday. Sterling Bancorp has a 52-week low of $15.62 and a 52-week high of $25.65. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 10.23 and a beta of 1.25.

Sterling Bancorp (NYSE:STL) last issued its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. Sterling Bancorp had a net margin of 33.95% and a return on equity of 10.54%. The business had revenue of $265.35 million during the quarter, compared to the consensus estimate of $266.32 million. During the same period in the prior year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Sterling Bancorp will post 2.09 EPS for the current year.

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Sterling Bancorp Company 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 checking, savings, money market, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds.

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

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