Sterling Bancorp (SBT) Coverage Initiated at Sandler O’Neill
Sandler O’Neill started coverage on shares of Sterling Bancorp (NASDAQ:SBT) in a report issued on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $14.00 target price on the stock.
Sterling Bancorp (SBT) opened at $12.62 on Thursday. The company has a market cap of $665.76 and a price-to-earnings ratio of 17.77. Sterling Bancorp has a 1 year low of $12.00 and a 1 year high of $13.79.
In other news, major shareholder J. Seligman 1993 Long Te Scott sold 363,576 shares of Sterling Bancorp stock in a transaction on Monday, December 4th. The shares were sold at an average price of $12.00, for a total transaction of $4,362,912.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Seth S. Meltzer sold 93,887 shares of Sterling Bancorp stock in a transaction on Monday, December 4th. The stock was sold at an average price of $12.00, for a total transaction of $1,126,644.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 24,600 shares of company stock valued at $295,200 and have sold 2,305,855 shares valued at $27,670,260.
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About Sterling Bancorp
Sterling Bancorp, Inc is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.
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