Sterling Bancorp (NYSE:STL) Reports Increase in Sellers; Strong Momentum for Short Players

July 12, 2018 - By Bradley Stiles

Investors sentiment decreased to 1.25 in 2018 Q1. Its down 1.22, from 2.47 in 2017Q4. It turned negative, as 29 investors sold Sterling Bancorp shares while 76 reduced holdings. 37 funds opened positions while 94 raised stakes. 199.99 million shares or 3.63% more from 192.99 million shares in 2017Q4 were reported.
Teacher Retirement System Of Texas invested 0.01% of its portfolio in Sterling Bancorp (NYSE:STL). Goldman Sachs Group Incorporated invested in 0.02% or 3.11 million shares. Vanguard Grp Incorporated holds 0.02% of its portfolio in Sterling Bancorp (NYSE:STL) for 18.57M shares. Hilton Cap Management Limited Liability Company has invested 2.44% in Sterling Bancorp (NYSE:STL). 843,225 were accumulated by Skyline Asset Mngmt Lp. Tower Limited Liability Co (Trc) owns 33,532 shares. Gradient Invs Ltd Com holds 0% in Sterling Bancorp (NYSE:STL) or 1,511 shares. Keybank Association Oh has invested 0.01% in Sterling Bancorp (NYSE:STL). 44,256 were reported by Liberty Mutual Group Incorporated Asset Mgmt Incorporated. Morgan Stanley has invested 0.01% in Sterling Bancorp (NYSE:STL). The Ontario – Canada-based Picton Mahoney Asset has invested 0.72% in Sterling Bancorp (NYSE:STL). 21,615 are held by Neuberger Berman Gp Limited Liability Corporation. Moreover, Gam Ag has 0.04% invested in Sterling Bancorp (NYSE:STL). Ameriprise Financial owns 2.09M shares or 0.02% of their US portfolio. Stratos Wealth Ltd stated it has 119 shares.

The stock of Sterling Bancorp (NYSE:STL) registered an increase of 9.82% in short interest. STL’s total short interest was 16.49 million shares in July as published by FINRA. Its up 9.82% from 15.01 million shares, reported previously. With 2.05M shares average volume, it will take short sellers 8 days to cover their STL’s short positions.

The stock decreased 0.21% or $0.05 during the last trading session, reaching $23.75. About 1.71 million shares traded. Sterling Bancorp (NYSE:STL) has risen 13.41% since July 12, 2017 and is uptrending. It has outperformed by 0.84% the S&P500.

Sterling Bancorp operates as the bank holding firm for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company has market cap of $5.36 billion. The firm accepts deposit products, including checking, money market, savings, time, and interest and non-interest bearing demand deposits, as well as certificates of deposit and mortgage escrow funds. It has a 28.72 P/E ratio. It originates various loans that comprise residential and commercial mortgage loans; commercial and industrial, asset-based, payroll finance, warehouse, factored receivables, equipment finance, public sector, and commercial real estate and multi-family loans; consumer loans, such as homeowner loans, home equity lines of credit, new and used automobile loans, and personal unsecured loans; and acquisition, development, and construction loans.

Sterling Bancorp (NYSE:STL) Ratings Coverage

Among 6 analysts covering Sterling Bancorp (NYSE:STL), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Sterling Bancorp had 9 analyst reports since January 24, 2018 according to SRatingsIntel. The stock of Sterling Bancorp (NYSE:STL) earned “Buy” rating by Keefe Bruyette & Woods on Monday, February 26. On Wednesday, April 4 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The firm has “Buy” rating by Maxim Group given on Wednesday, April 25. Hovde Group maintained it with “Buy” rating and $30.0 target in Thursday, January 25 report. The rating was maintained by Maxim Group on Wednesday, January 24 with “Buy”. The stock has “Buy” rating by Jefferies on Wednesday, January 24. The stock of Sterling Bancorp (NYSE:STL) earned “Buy” rating by Piper Jaffray on Thursday, January 25. The rating was maintained by Maxim Group on Tuesday, May 1 with “Buy”.

Another recent and important Sterling Bancorp (NYSE:STL) news was published by Globenewswire.com which published an article titled: “Sterling Bancorp to Announce Second Quarter 2018 Results” on July 06, 2018.

Sterling Bancorp (NYSE:STL) Ratings Chart

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