Monashee Investment Management LLC Takes $7.54 Million Position in Sterling Bancorp Inc (SBT)

Monashee Investment Management LLC acquired a new stake in Sterling Bancorp Inc (NASDAQ:SBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 593,439 shares of the company’s stock, valued at approximately $7,537,000. Sterling Bancorp comprises 3.2% of Monashee Investment Management LLC’s holdings, making the stock its 10th largest position. Monashee Investment Management LLC owned about 1.12% of Sterling Bancorp as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SBT. Peregrine Capital Management LLC acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at approximately $9,521,000. Maltese Capital Management LLC acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at approximately $8,700,000. Citadel Advisors LLC acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at approximately $3,831,000. Jennison Associates LLC acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at approximately $3,619,000. Finally, Penn Capital Management Co. Inc. acquired a new position in shares of Sterling Bancorp in the fourth quarter valued at approximately $1,290,000. 9.54% of the stock is owned by institutional investors and hedge funds.

In related news, Director Seth S. Meltzer sold 93,887 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $12.00, for a total transaction of $1,126,644.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder J. Seligman 1993 Long Te Scott sold 363,576 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $12.00, for a total transaction of $4,362,912.00. The disclosure for this sale can be found here.

Sterling Bancorp Inc (NASDAQ SBT) opened at $13.54 on Wednesday. Sterling Bancorp Inc has a 52-week low of $12.00 and a 52-week high of $14.77. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 1.62.

The business also recently declared a special dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be given a dividend of $0.01 per share. This represents a yield of 0.000800640512409928%. The ex-dividend date is Tuesday, February 13th.

Separately, Sandler O’Neill reaffirmed a “buy” rating and set a $14.50 price target on shares of Sterling Bancorp in a research report on Wednesday, January 3rd.

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Sterling Bancorp Company Profile

Sterling Bancorp, Inc is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.

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Institutional Ownership by Quarter for Sterling Bancorp (NASDAQ:SBT)

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