Sterling Bancorp (NASDAQ:SBT) Short Interest Update

Sterling Bancorp (NASDAQ:SBT) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 177,800 shares, a drop of 20.2% from the August 15th total of 222,800 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 36,100 shares, the short-interest ratio is presently 4.9 days.

Sterling Bancorp Stock Performance

Shares of SBT stock opened at $5.75 on Monday. The stock has a market cap of $300.90 million, a PE ratio of 35.94 and a beta of 0.53. Sterling Bancorp has a 1 year low of $4.55 and a 1 year high of $6.20. The stock has a fifty day moving average price of $5.65 and a 200 day moving average price of $5.22.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.03 EPS for the quarter. The firm had revenue of $34.28 million for the quarter. Sterling Bancorp had a net margin of 4.84% and a return on equity of 2.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Koss Olinger Consulting LLC acquired a new position in Sterling Bancorp in the 1st quarter valued at about $68,000. Princeton Capital Management LLC lifted its holdings in shares of Sterling Bancorp by 60.6% during the 2nd quarter. Princeton Capital Management LLC now owns 26,511 shares of the company’s stock worth $139,000 after acquiring an additional 10,000 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Sterling Bancorp by 883.5% in the first quarter. BNP Paribas Financial Markets now owns 74,696 shares of the company’s stock worth $385,000 after acquiring an additional 67,101 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Sterling Bancorp by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock valued at $466,000 after purchasing an additional 2,357 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Sterling Bancorp by 5.0% in the second quarter. Renaissance Technologies LLC now owns 229,474 shares of the company’s stock valued at $1,200,000 after purchasing an additional 11,000 shares during the period. 26.37% of the stock is owned by hedge funds and other 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.