Short Interest in Sterling Bancorp (NASDAQ:SBT) Expands By 27.4%

Sterling Bancorp (NASDAQ:SBT) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 226,600 shares, a growth of 27.4% from the August 31st total of 177,800 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 45,000 shares, the short-interest ratio is currently 5.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Koss Olinger Consulting LLC bought a new position in shares of Sterling Bancorp in the first quarter valued at approximately $68,000. Princeton Capital Management LLC boosted its stake in Sterling Bancorp by 60.6% in the 2nd quarter. Princeton Capital Management LLC now owns 26,511 shares of the company’s stock valued at $139,000 after buying an additional 10,000 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Sterling Bancorp by 883.5% during 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 grew its position in 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 acquiring an additional 2,357 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake 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 buying an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors own 26.37% of the company’s stock.

Sterling Bancorp Stock Performance

NASDAQ SBT remained flat at $4.62 on Friday. 23,502 shares of the company’s stock traded hands, compared to its average volume of 51,300. The stock has a market cap of $241.76 million, a PE ratio of 28.88 and a beta of 0.53. Sterling Bancorp has a 1 year low of $4.52 and a 1 year high of $6.01. The firm’s 50 day simple moving average is $5.47 and its 200-day simple moving average is $5.19.

Sterling Bancorp (NASDAQ:SBT) last announced its earnings results on Wednesday, July 24th. The company reported $0.03 EPS for the quarter. The business 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 Company 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.