Argent Capital Management LLC Decreases Position in Sterling Bancorp (STL)

Argent Capital Management LLC reduced its stake in Sterling Bancorp (NYSE:STL) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,300 shares of the financial services provider’s stock after selling 12,750 shares during the period. Argent Capital Management LLC owned 0.13% of Sterling Bancorp worth $3,959,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in STL. First Bank & Trust raised its stake in Sterling Bancorp by 402.6% in the second quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,970 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Sterling Bancorp by 70.6% in the second quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,119 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sterling Bancorp by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock worth $128,000 after buying an additional 415 shares in the last quarter. M&T Bank Corp bought a new position in Sterling Bancorp in the second quarter worth about $205,000. Finally, World Asset Management Inc raised its stake in Sterling Bancorp by 3.0% in the second quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock worth $206,000 after buying an additional 261 shares in the last quarter. 90.91% of the stock is owned by institutional investors.

A number of research firms recently issued reports on STL. BidaskClub downgraded shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada decreased their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Friday, September 8th. Maxim Group reissued a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, July 26th. Finally, ValuEngine downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.31.

In other Sterling Bancorp news, Director Richard L. O’toole purchased 4,000 shares of Sterling Bancorp stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $22.60 per share, for a total transaction of $90,400.00. Following the acquisition, the director now owns 21,291 shares in the company, valued at approximately $481,176.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Burt Steinberg purchased 10,000 shares of Sterling Bancorp stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $21.88 per share, with a total value of $218,800.00. Following the acquisition, the director now owns 135,146 shares in the company, valued at approximately $2,956,994.48. The disclosure for this purchase can be found here. Insiders own 3.74% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Argent Capital Management LLC Decreases Position in Sterling Bancorp (STL)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://ledgergazette.com/2017/10/09/argent-capital-management-llc-decreases-position-in-sterling-bancorp-stl.html.

Shares of Sterling Bancorp (STL) traded up 0.81% during trading on Monday, hitting $24.75. 359,233 shares of the company’s stock were exchanged. Sterling Bancorp has a one year low of $16.75 and a one year high of $25.85. The stock has a market cap of $3.36 billion, a P/E ratio of 20.64 and a beta of 1.07. The firm has a 50-day moving average price of $22.96 and a 200-day moving average price of $22.95.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, July 25th. The financia

A number of other hedge funds also recently added to or reduced their stakes in STL. First Bank & Trust raised its stake in Sterling Bancorp by 402.6% in the second quarter. First Bank & Trust now owns 4,956 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,970 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Sterling Bancorp by 70.6% in the second quarter. Riverhead Capital Management LLC now owns 5,119 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,119 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sterling Bancorp by 8.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,504 shares of the financial services provider’s stock worth $128,000 after buying an additional 415 shares in the last quarter. M&T Bank Corp bought a new position in Sterling Bancorp in the second quarter worth about $205,000. Finally, World Asset Management Inc raised its stake in Sterling Bancorp by 3.0% in the second quarter. World Asset Management Inc now owns 8,842 shares of the financial services provider’s stock worth $206,000 after buying an additional 261 shares in the last quarter. 90.91% of the stock is owned by institutional investors.

A number of research firms recently issued reports on STL. BidaskClub downgraded shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada decreased their price target on shares of Sterling Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Sterling Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Friday, September 8th. Maxim Group reissued a “buy” rating and issued a $30.00 price target on shares of Sterling Bancorp in a research note on Wednesday, July 26th. Finally, ValuEngine downgraded shares of Sterling Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.31.

In other Sterling Bancorp news, Director Richard L. O’toole purchased 4,000 shares of Sterling Bancorp stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $22.60 per share, for a total transaction of $90,400.00. Following the acquisition, the director now owns 21,291 shares in the company, valued at approximately $481,176.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Burt Steinberg purchased 10,000 shares of Sterling Bancorp stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $21.88 per share, with a total value of $218,800.00. Following the acquisition, the director now owns 135,146 shares in the company, valued at approximately $2,956,994.48. The disclosure for this purchase can be found here. Insiders own 3.74% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Argent Capital Management LLC Decreases Position in Sterling Bancorp (STL)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://ledgergazette.com/2017/10/09/argent-capital-management-llc-decreases-position-in-sterling-bancorp-stl.html.

Shares of Sterling Bancorp (STL) traded up 0.81% during trading on Monday, hitting $24.75. 359,233 shares of the company’s stock were exchanged. Sterling Bancorp has a one year low of $16.75 and a one year high of $25.85. The stock has a market cap of $3.36 billion, a P/E ratio of 20.64 and a beta of 1.07. The firm has a 50-day moving average price of $22.96 and a 200-day moving average price of $22.95.

Sterling Bancorp (NYSE:STL) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. Sterling Bancorp had a net margin of 28.40% and a return on equity of 8.62%. The company had revenue of $126.88 million during the quarter, compared to analysts’ expectations of $133.85 million. Equities research analysts expect that Sterling Bancorp will post $0.69 EPS for the current fiscal year.

About Sterling Bancorp

Sterling Bancorp is a financial holding company. The Company is a bank holding company that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves. The Bank offers a line of commercial, business, and consumer banking products and services.

Institutional Ownership by Quarter for Sterling Bancorp (NYSE:STL)

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