UBS Group AG cut its holdings in Sterling Bancorp (NASDAQ:SBT) by 49.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,251 shares of the company’s stock after selling 10,143 shares during the period. UBS Group AG’s holdings in Sterling Bancorp were worth $44,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBT. Eaton Vance Management bought a new stake in Sterling Bancorp during the 4th quarter valued at about $3,240,000. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Sterling Bancorp by 70.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 490,044 shares of the company’s stock valued at $3,969,000 after purchasing an additional 202,540 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Sterling Bancorp by 48.0% in the 4th quarter. Renaissance Technologies LLC now owns 326,833 shares of the company’s stock valued at $2,647,000 after purchasing an additional 105,928 shares during the period. Martingale Asset Management L P increased its holdings in Sterling Bancorp by 421.8% in the 4th quarter. Martingale Asset Management L P now owns 107,139 shares of the company’s stock worth $868,000 after acquiring an additional 86,606 shares in the last quarter. Finally, Zebra Capital Management LLC purchased a new stake in Sterling Bancorp in the 4th quarter worth $318,000. Institutional investors own 27.14% of the company’s stock.
NASDAQ:SBT opened at $3.39 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $3.22 and a two-hundred day simple moving average of $5.23. The company has a market cap of $170.18 million, a price-to-earnings ratio of 3.03 and a beta of 0.94. Sterling Bancorp has a 52 week low of $2.53 and a 52 week high of $10.48.
A number of analysts have recently issued reports on SBT shares. ValuEngine downgraded shares of Sterling Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Piper Sandler reissued an “underweight” rating and issued a $6.00 target price (down previously from $7.50) on shares of Sterling Bancorp in a research report on Monday, March 9th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has an average rating of “Sell” and a consensus target price of $9.17.
Sterling Bancorp 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.
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