Sterling Bancorp (NASDAQ:SBT) Short Interest Up 11.8% in July
Sterling Bancorp (NASDAQ:SBT) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 292,900 shares, an increase of 11.8% from the June 30th total of 262,100 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 94,800 shares, the short-interest ratio is currently 3.1 days.
NASDAQ:SBT traded down $0.05 during trading hours on Friday, hitting $3.05. The stock had a trading volume of 54,081 shares, compared to its average volume of 53,336. The company has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $4.55. The firm has a market capitalization of $153.12 million, a price-to-earnings ratio of 2.72 and a beta of 0.97. Sterling Bancorp has a one year low of $2.53 and a one year high of $10.27.
Institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund grew its holdings in Sterling Bancorp by 68.3% in the 1st quarter. New York State Common Retirement Fund now owns 124,061 shares of the company’s stock worth $533,000 after acquiring an additional 50,361 shares during the last quarter. Sontag Advisory LLC bought a new stake in shares of Sterling Bancorp during the 1st quarter valued at about $59,000. Russell Investments Group Ltd. boosted its stake in shares of Sterling Bancorp by 463.7% during the 1st quarter. Russell Investments Group Ltd. now owns 118,376 shares of the company’s stock valued at $509,000 after purchasing an additional 97,376 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Sterling Bancorp by 6.5% during the 1st quarter. Alliancebernstein L.P. now owns 81,544 shares of the company’s stock valued at $351,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Sterling Bancorp during the 1st quarter valued at about $184,000. 27.14% of the stock is currently owned by institutional investors and hedge funds.
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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