Sterling Bancorp (SBT) PT Set at $13.00 by Sandler O’Neill

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Sterling Bancorp (NASDAQ:SBT) has been given a $13.00 target price by investment analysts at Sandler O’Neill in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Sandler O’Neill’s price target suggests a potential upside of 23.34% from the stock’s current price.

Shares of SBT stock traded up $0.50 on Tuesday, hitting $10.54. The stock had a trading volume of 231 shares, compared to its average volume of 41,329. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 1.36. Sterling Bancorp has a 1 year low of $9.44 and a 1 year high of $14.98.

Sterling Bancorp (NASDAQ:SBT) last posted its quarterly earnings data on Monday, October 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $35.03 million during the quarter.

In related news, Director Seth S. Meltzer purchased 7,000 shares of the business’s stock in a transaction on Thursday, October 25th. The shares were bought at an average price of $9.82 per share, for a total transaction of $68,740.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBT. New York State Common Retirement Fund acquired a new stake in shares of Sterling Bancorp in the 1st quarter valued at about $127,000. Engineers Gate Manager LP acquired a new stake in shares of Sterling Bancorp in the 2nd quarter valued at about $142,000. GSA Capital Partners LLP acquired a new stake in shares of Sterling Bancorp in the 2nd quarter valued at about $164,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Sterling Bancorp in the 2nd quarter valued at about $174,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Sterling Bancorp in the 1st quarter valued at about $208,000. Institutional investors and hedge funds own 29.82% of the company’s stock.

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.

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