Sterling Bancorp (NASDAQ:SBT) Stock Price Up 2.4% – Time to Buy?

Shares of Sterling Bancorp (NASDAQ:SBT) shot up 2.4% during trading on Wednesday . The company traded as high as $4.83 and last traded at $4.83. 26,271 shares were traded during trading, a decline of 30% from the average session volume of 37,635 shares. The stock had previously closed at $4.72.

Sterling Bancorp Stock Performance

The company has a market capitalization of $252.66 million, a P/E ratio of 37.16 and a beta of 0.52. The firm’s fifty day moving average is $4.73 and its 200 day moving average is $5.12.

Hedge Funds Weigh In On Sterling Bancorp

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Sterling Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,461,987 shares of the company’s stock worth $7,544,000 after purchasing an additional 8,077 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Sterling Bancorp by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 895,976 shares of the company’s stock valued at $4,685,000 after buying an additional 66,148 shares in the last quarter. Geode Capital Management LLC boosted its position in Sterling Bancorp by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 451,150 shares of the company’s stock valued at $2,053,000 after buying an additional 40,414 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Sterling Bancorp by 5.0% in the second quarter. Renaissance Technologies LLC now owns 229,474 shares of the company’s stock valued at $1,200,000 after purchasing an additional 11,000 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Sterling Bancorp by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company’s stock worth $466,000 after buying an additional 2,357 shares in the last quarter. Hedge funds and other institutional investors own 26.37% of the company’s stock.

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.