Sterling Bancorp (STL) Shares Bought by JPMorgan Chase & Co

Sterling Bancorp (STL) Shares Bought by JPMorgan Chase & Co”

The firm had revenue of $121.63 million for the quarter, compared to the consensus estimate of $127.81 million. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and CT.

Astoria Financial Corporation is the unitary savings and loan holding company of Astoria Bank and its subsidiaries.

Technical analysts have little regard for the value of a company. ValuEngine lowered Sterling Bancorp from a buy rating to a hold rating in a research note on Thursday, September 7th. Hovde Group downgraded Sterling Bancorp from an "outperform" rating to a "market perform" rating in a report on Monday, January 9th. As per Thursday, July 27, the company rating was maintained by Keefe Bruyette & Woods.

Sterling Bancorp (NYSE:STL) last announced its quarterly earnings results on Tuesday, July 25th. Finally, LS Investment Advisors LLC boosted its holdings in shares of Sterling Bancorp by 33.5% during the first quarter. The stock has "Buy" rating by Zacks on Thursday, August 6.

Sterling Bancorp. (NYSE:STL) closed its last session at $24.85.

Sterling Bancorp has a 50 day moving average of 22.73 and a 200 day moving average of 22.93. Over the same time span, the stock marked US$25.85 as its best level and the lowest price reached was US$16.75. US Bancorp DE increased its holdings in shares of Sterling Bancorp by 10.7% in the 1st quarter. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the Zacks' consensus estimate of $0.33. The return on equity ratio or ROE stands at 8.6 percent while most common profitability ratio return on investment (ROI) was 14.9 percent. They expect $1.79 EPS, up 6.55% or $0.11 from last year's $1.68 per share.

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While under theory that management are shareholders, many value investors look for stocks with a high percent of insider ownership, because they will act in its own self interest, as well create shareholder value in the long-term. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Thomas G. Kahn, Director let go of $11,555 worth of shares at an average price of $23.11 on Tue the 19th. Following the completion of the transaction, the director now owns 21,291 shares in the company, valued at $481,176.60. The disclosure for this purchase can be found here. Insiders own 3.74% of the company's stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP acquired a new stake in shares of Sterling Bancorp in the 1st quarter valued at $1,653,000. Legal & General Group Plc now owns 234,860 shares of the financial services provider's stock valued at $5,568,000 after acquiring an additional 6,954 shares during the period. Sterling Bancorp had 26 analyst reports since August 3, 2015 according to SRatingsIntel. Monarch Partners Asset Management LLC now owns 871,973 shares of the financial services provider's stock worth $20,666,000 after buying an additional 613,710 shares during the last quarter.

EX-3.1 2 v475831_ex3-1.htm EXHIBIT 3.1 Exhibit 3.1 AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF STERLING BANCORP (Pursuant to Sections 242 and 245 of the Delaware General Corporation Law of the State of Delaware) (name changed to Provident New York Bancorp 6/29/05; name changed to Sterling Bancorp 10/31/13) Pursuant to Section 242 and Section 245 of the Delaware General Corporation Law, ... Finally, Prudential Financial Inc. increased its stake in Sterling Bancorp by 3.8% during the first quarter. Institutional investors own 90.91% of the company's stock.

Sterling Bancorp is a financial holding company. The Firm is a bank holding firm that owns the Sterling National Bank. The Bank specializes in the delivery of services and solutions to business owners, their families and clients within the communities it serves.

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