Kennedy Capital Management Inc. bought a new position in shares of Sterling Bancorp Inc (NASDAQ:SBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 199,650 shares of the company’s stock, valued at approximately $2,536,000. Kennedy Capital Management Inc. owned about 0.38% of Sterling Bancorp as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Sterling Bancorp during the fourth quarter worth $411,000. Quantitative Systematic Strategies LLC bought a new position in Sterling Bancorp during the fourth quarter worth $550,000. River Oaks Capital LLC bought a new position in Sterling Bancorp during the fourth quarter worth $928,000. Penn Capital Management Co. Inc. bought a new position in Sterling Bancorp during the fourth quarter worth $1,290,000. Finally, Jennison Associates LLC bought a new position in Sterling Bancorp during the fourth quarter worth $3,619,000. 28.79% of the stock is owned by institutional investors and hedge funds.
SBT stock traded up $0.11 on Wednesday, reaching $13.55. 31,619 shares of the company’s stock traded hands, compared to its average volume of 174,713. Sterling Bancorp Inc has a 12-month low of $12.00 and a 12-month high of $14.98. 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 was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.01 dividend. This represents a yield of 0.000800640512409928%. The ex-dividend date of this dividend was Tuesday, February 13th.
Separately, Sandler O’Neill reaffirmed a “buy” rating and issued a $14.50 price target on shares of Sterling Bancorp in a research note on Wednesday, January 3rd.
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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