Quantitative Systematic Strategies LLC Takes $550,000 Position in Sterling Bancorp Inc (SBT)

Quantitative Systematic Strategies LLC acquired a new position in shares of Sterling Bancorp Inc (NASDAQ:SBT) in the 4th quarter, HoldingsChannel reports. The fund acquired 43,281 shares of the company’s stock, valued at approximately $550,000.

Separately, Peregrine Capital Management LLC bought a new stake in shares of Sterling Bancorp during the 4th quarter worth $9,521,000. Institutional investors and hedge funds own 2.03% of the company’s stock.

Separately, Sandler O’Neill reaffirmed a “buy” rating and set a $14.50 price objective on shares of Sterling Bancorp in a report on Wednesday, January 3rd.

In related news, insider Michael A. Montemayor bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was purchased at an average cost of $12.00 per share, for a total transaction of $120,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Seth S. Meltzer sold 304,933 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $12.00, for a total transaction of $3,659,196.00. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 24,600 shares of company stock valued at $295,200 and have sold 2,305,855 shares valued at $27,670,260.

Shares of Sterling Bancorp Inc (SBT) opened at $12.24 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.12 and a current ratio of 1.14. Sterling Bancorp Inc has a 1-year low of $12.00 and a 1-year high of $14.01.

The business also recently announced a special dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.01 per share. This represents a yield of 0.000800640512409928%. The ex-dividend date of this dividend is Tuesday, February 13th.

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Sterling Bancorp Profile

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.

Want to see what other hedge funds are holding SBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Bancorp Inc (NASDAQ:SBT).

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