The stock of Sterling Bancorp (NYSE:STL) is a huge mover today! About 722,665 shares traded hands. Sterling Bancorp (NYSE:STL) has risen 30.04% since April 18, 2016 and is uptrending. It has outperformed by 25.61% the S&P500.
The move comes after 7 months positive chart setup for the $2.78B company. It was reported on Nov, 18 by Barchart.com. We have $32.93 PT which if reached, will make NYSE:STL worth $1.36B more.
Sterling Bancorp (NYSE:STL) Ratings Coverage
Out of 6 analysts covering Sterling Bancorp (NYSE:STL), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Sterling Bancorp has been the topic of 7 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Monday, October 10 the stock rating was initiated by Hovde Group with “Outperform”. The stock has “Neutral” rating given by Piper Jaffray on Wednesday, November 16. The rating was downgraded by Zacks on Tuesday, August 18 to “Buy”. The firm has “Neutral” rating given on Wednesday, November 16 by PiperJaffray. The rating was initiated by RBC Capital Markets on Wednesday, September 30 with “Outperform”. Maxim Group initiated Sterling Bancorp (NYSE:STL) on Thursday, June 23 with “Buy” rating.
According to Zacks Investment Research, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York.”
Insitutional Activity: The institutional sentiment is 1.32 in Q2 2016. Its the same as in 2016Q1. The ratio is the same, as 8 funds sold all Sterling Bancorp shares owned while 51 reduced positions. only 13 funds bought stakes while 65 increased positions. They now own 99.15 million shares or 1.66% more from 97.54 million shares in 2016Q1.
The New York-based Evercore Wealth Mngmt Ltd has invested 0.07% in Sterling Bancorp (NYSE:STL). Mufg Americas Corp accumulated 1,334 shares or 0% of the stock. Moreover, Cubist Systematic Strategies Limited Liability has 0.02% invested in Sterling Bancorp (NYSE:STL) for 19,090 shares. Moreover, Jfs Wealth Advisors Lc has 0.02% invested in Sterling Bancorp (NYSE:STL) for 5,000 shares. Intl Group Inc has 0% invested in the company for 93,232 shares. Victory Capital Mgmt has 3.60 million shares for 0.23% of their US portfolio. Teacher Retirement Of Texas reported 17,296 shares or 0% of all its holdings. Alpine Woods Cap Lc reported 12,000 shares or 0.01% of all its holdings. Great West Life Assurance Can has invested 0% of its portfolio in Sterling Bancorp (NYSE:STL). Crawford Invest Counsel holds 646,370 shares or 0.4% of its portfolio. Dimensional Fund Advsr Limited Partnership holds 0.07% of its portfolio in Sterling Bancorp (NYSE:STL) for 7.65 million shares. Keybank Natl Association Oh owns 114,709 shares or 0.01% of their US portfolio. Stifel Corporation owns 167,534 shares or 0.01% of their US portfolio. Buckingham Asset Management Limited accumulated 12,015 shares or 0.06% of the stock. The Massachusetts-based Monarch Prns Asset Mngmt Ltd has invested 0.39% in Sterling Bancorp (NYSE:STL).
More recent Sterling Bancorp (NYSE:STL) news were published by: Reuters.com which released: “BRIEF-Sterling Bancorp says prices offering of 3.8 mln shares” on November 17, 2016. Also Streetinsider.com published the news titled: “Form 4 STERLING BANCORP For: Nov 15 Filed by: Peoples James R.” on November 18, 2016. Reuters.com‘s news article titled: “BRIEF-Sterling Bancorp announces public offering of common stock” with publication date: November 16, 2016 was also an interesting one.
STL Company Profile
Sterling Bancorp, incorporated on June 30, 2003, is a financial holding company. The Firm is a bank holding firm that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and clients within the communities it serves. The Bank offers a line of commercial, business, and consumer banking services and products. The Bank offers services in the New York Metro Market, which includes Manhattan and Long Island, and the New York Suburban Market, which consists of Rockland, Orange, Sullivan, Ulster, Putnam and Westchester counties in New York and Bergen County in New Jersey.
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