Sterling Bancorp (NASDAQ:SBT) Short Interest Down 20.2% in August

Sterling Bancorp (NASDAQ:SBT) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 177,800 shares, a decline of 20.2% from the August 15th total of 222,800 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 36,100 shares, the days-to-cover ratio is currently 4.9 days.

Sterling Bancorp Stock Up 0.7 %

Sterling Bancorp stock opened at $5.75 on Monday. The firm has a market capitalization of $300.90 million, a P/E ratio of 35.94 and a beta of 0.53. The firm has a fifty day moving average of $5.65 and a 200-day moving average of $5.22. Sterling Bancorp has a 52-week low of $4.55 and a 52-week high of $6.20.

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

Institutional Investors Weigh In On Sterling Bancorp

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in Sterling Bancorp by 5.0% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sterling Bancorp by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 895,976 shares of the company’s stock valued at $4,685,000 after acquiring an additional 66,148 shares in the last quarter. Princeton Capital Management LLC increased its position in shares of Sterling Bancorp by 60.6% during the second 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 last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $466,000 after acquiring an additional 2,357 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Sterling Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,461,987 shares of the company’s stock valued at $7,544,000 after purchasing an additional 8,077 shares during the last quarter. 26.37% of the stock is currently 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.