Hilton Capital Management LLC purchased a new position in shares of Sterling Bancorp (NYSE:STL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 631,592 shares of the financial services provider’s stock, valued at approximately $15,537,000. Sterling Bancorp comprises approximately 2.3% of Hilton Capital Management LLC’s holdings, making the stock its 23rd biggest position. Hilton Capital Management LLC owned approximately 0.28% of Sterling Bancorp at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in STL. Lazard Asset Management LLC acquired a new position in shares of Sterling Bancorp during the 4th quarter worth $176,300,000. BlackRock Inc. raised its stake in shares of Sterling Bancorp by 32.0% during the 4th quarter. BlackRock Inc. now owns 23,516,070 shares of the financial services provider’s stock worth $578,494,000 after buying an additional 5,699,675 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Sterling Bancorp by 794,685.8% during the 4th quarter. Clearbridge Investments LLC now owns 5,078,681 shares of the financial services provider’s stock worth $124,936,000 after buying an additional 5,078,042 shares during the last quarter. Earnest Partners LLC acquired a new position in shares of Sterling Bancorp during the 4th quarter worth $53,843,000. Finally, EJF Capital LLC acquired a new position in shares of Sterling Bancorp during the 3rd quarter worth $44,127,000. 88.74% of the stock is owned by institutional investors and hedge funds.
In related news, Director James F. Deutsch sold 200,000 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $25.22, for a total value of $5,044,000.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $12,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.74% of the company’s stock.
STL stock opened at $24.30 on Wednesday. Sterling Bancorp has a one year low of $21.00 and a one year high of $26.50. The firm has a market cap of $5,529.65, a PE ratio of 31.56 and a beta of 1.09. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25.
Sterling Bancorp (NYSE:STL) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Sterling Bancorp had a net margin of 12.46% and a return on equity of 8.93%. The firm had revenue of $265.00 million during the quarter, compared to the consensus estimate of $267.08 million. The company’s revenue was up 115.3% compared to the same quarter last year. equities analysts expect that Sterling Bancorp will post 1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, February 5th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, February 2nd. Sterling Bancorp’s payout ratio is 36.36%.
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About Sterling Bancorp
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.
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