Charles Schwab Investment Management Inc. Sells 6,842 Shares of Sterling Bancorp (NASDAQ:SBT)

Charles Schwab Investment Management Inc. cut its holdings in shares of Sterling Bancorp (NASDAQ:SBT) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,799 shares of the company’s stock after selling 6,842 shares during the period. Charles Schwab Investment Management Inc. owned about 0.11% of Sterling Bancorp worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Sterling Bancorp by 9.8% during the third quarter. Geode Capital Management LLC now owns 451,150 shares of the company’s stock worth $2,053,000 after acquiring an additional 40,414 shares in the last quarter. Barclays PLC increased its position in Sterling Bancorp by 206.1% during the 3rd quarter. Barclays PLC now owns 27,819 shares of the company’s stock worth $126,000 after purchasing an additional 18,730 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sterling Bancorp by 131.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,031 shares of the company’s stock valued at $105,000 after purchasing an additional 13,096 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Sterling Bancorp in the 4th quarter valued at approximately $51,000. 26.37% of the stock is currently owned by institutional investors.

Sterling Bancorp Price Performance

Shares of NASDAQ SBT opened at $4.86 on Wednesday. The company has a 50 day simple moving average of $4.74 and a 200 day simple moving average of $4.73. Sterling Bancorp has a 1 year low of $4.40 and a 1 year high of $5.97. The firm has a market cap of $254.17 million, a PE ratio of 97.22 and a beta of 0.54.

Sterling Bancorp (NASDAQ:SBT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.02 earnings per share (EPS) for the quarter. Sterling Bancorp had a net margin of 1.57% and a return on equity of 0.65%.

About Sterling Bancorp

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.