Sterling Bancorp (NASDAQ:SBT) Trading Up 1.2% – Here’s Why

Sterling Bancorp (NASDAQ:SBT)’s stock price rose 1.2% during mid-day trading on Monday . The stock traded as high as $4.90 and last traded at $4.89. Approximately 42,024 shares were traded 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 Trading Up 1.2 %

The stock has a 50 day moving average of $4.70 and a 200-day moving average of $4.80. The stock has a market capitalization of $255.81 million, a P/E ratio of 97.82 and a beta of 0.54.

Sterling Bancorp (NASDAQ:SBT) last issued its earnings results on Thursday, January 30th. The company reported $0.02 earnings per share 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 have recently bought and sold shares of the stock. Barclays PLC lifted its position in Sterling Bancorp by 206.1% during the third quarter. Barclays PLC now owns 27,819 shares of the company’s stock valued at $126,000 after purchasing an additional 18,730 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sterling Bancorp by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 451,150 shares of the company’s stock valued at $2,053,000 after buying an additional 40,414 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sterling Bancorp by 131.8% in the third quarter. JPMorgan Chase & Co. now owns 23,031 shares of the company’s stock worth $105,000 after buying an additional 13,096 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Sterling Bancorp during the fourth quarter worth about $51,000. Finally, Alliancebernstein L.P. raised its position in Sterling Bancorp by 6.0% during the fourth 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. Institutional investors and hedge funds own 26.37% 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.