Other equities research analysts also recently issued reports about the stock. Piper Sandler restated an “underweight” rating and issued a $6.00 price target (down from $7.50) on shares of Sterling Bancorp in a research note on Monday, March 9th. BidaskClub upgraded shares of Sterling Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 27th. Zacks Investment Research upgraded shares of Sterling Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, TheStreet downgraded shares of Sterling Bancorp from a “c-” rating to a “d+” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average price target of $9.17.
Sterling Bancorp stock traded up $0.31 during trading hours on Thursday, reaching $3.61. 48,059 shares of the stock were exchanged, compared to its average volume of 66,025. The company has a market cap of $165.66 million, a P/E ratio of 3.22 and a beta of 1.52. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.90. Sterling Bancorp has a twelve month low of $2.53 and a twelve month high of $10.55. The stock has a 50 day moving average of $5.59 and a two-hundred day moving average of $8.08.
Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP raised its holdings in Sterling Bancorp by 35.1% during the 4th quarter. Royce & Associates LP now owns 5,829 shares of the company’s stock worth $47,000 after purchasing an additional 1,513 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Sterling Bancorp in the 4th quarter valued at $54,000. Advisory Services Network LLC bought a new stake in shares of Sterling Bancorp in the 4th quarter valued at $60,000. California Public Employees Retirement System bought a new stake in Sterling Bancorp during the 4th quarter valued at $120,000. Finally, Barclays PLC increased its stake in Sterling Bancorp by 91.9% during the 4th quarter. Barclays PLC now owns 16,855 shares of the company’s stock valued at $137,000 after purchasing an additional 8,074 shares in the last quarter. Hedge funds and other institutional investors own 26.88% 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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