NewEdge Advisors LLC Sells 14,916 Shares of Sterling Bancorp (NASDAQ:SBT)

NewEdge Advisors LLC lowered its holdings in shares of Sterling Bancorp (NASDAQ:SBT) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 278,701 shares of the company’s stock after selling 14,916 shares during the quarter. NewEdge Advisors LLC owned approximately 0.54% of Sterling Bancorp worth $1,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Koss Olinger Consulting LLC purchased a new stake in Sterling Bancorp during the first quarter valued at approximately $68,000. Princeton Capital Management LLC grew its position in shares of Sterling Bancorp by 60.6% during the 2nd quarter. Princeton Capital Management LLC now owns 26,511 shares of the company’s stock valued at $139,000 after acquiring an additional 10,000 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Sterling Bancorp by 883.5% in the 1st quarter. BNP Paribas Financial Markets now owns 74,696 shares of the company’s stock worth $385,000 after purchasing an additional 67,101 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sterling Bancorp by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock worth $466,000 after purchasing an additional 2,357 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Sterling Bancorp by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 229,474 shares of the company’s stock worth $1,200,000 after purchasing an additional 11,000 shares during the period. Institutional investors own 26.37% of the company’s stock.

Sterling Bancorp Stock Performance

NASDAQ:SBT opened at $4.41 on Friday. The stock has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $5.17. The firm has a market capitalization of $230.78 million, a PE ratio of 27.56 and a beta of 0.52. Sterling Bancorp has a 52-week low of $4.40 and a 52-week high of $6.01.

Sterling Bancorp (NASDAQ:SBT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.03 earnings per share (EPS) for the quarter. The company 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%.

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.