Sterling Bancorp (NASDAQ:SBT) Trading Up 1.2% – Time to Buy?

Sterling Bancorp (NASDAQ:SBT) was up 1.2% during mid-day trading on Monday . The company traded as high as $4.90 and last traded at $4.89. Approximately 42,024 shares changed hands during mid-day trading, an increase of 31% from the average daily volume of 31,970 shares. The stock had previously closed at $4.83.

Sterling Bancorp Price Performance

The business’s 50-day moving average price is $4.71 and its 200-day moving average price is $4.79. The firm has a market capitalization of $255.81 million, a PE ratio of 97.82 and a beta of 0.54.

Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.02 EPS for the quarter. Sterling Bancorp had a return on equity of 0.65% and a net margin of 1.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of Sterling Bancorp by 206.1% in the third quarter. Barclays PLC now owns 27,819 shares of the company’s stock valued at $126,000 after buying an additional 18,730 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sterling Bancorp by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 451,150 shares of the company’s stock valued at $2,053,000 after purchasing an additional 40,414 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sterling Bancorp by 131.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,031 shares of the company’s stock valued at $105,000 after purchasing an additional 13,096 shares in the last quarter. SG Americas Securities LLC bought a new stake in Sterling Bancorp in the 4th quarter valued at approximately $51,000. Finally, Alliancebernstein L.P. lifted its stake in Sterling Bancorp by 6.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,314,744 shares of the company’s stock valued at $11,018,000 after acquiring an additional 131,754 shares in the last quarter. 26.37% of the stock is owned by institutional investors.

Sterling Bancorp Company Profile

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.