Sterling Bancorp (SBT) Receives “Buy” Rating from Sandler O’Neill
Sterling Bancorp (NASDAQ:SBT)‘s stock had its “buy” rating reaffirmed by Sandler O’Neill in a research note issued to investors on Wednesday, January 3rd. They currently have a $14.50 target price on the stock. Sandler O’Neill’s target price points to a potential upside of 11.37% from the company’s previous close.
Sterling Bancorp (SBT) opened at $13.02 on Wednesday. Sterling Bancorp has a 1-year low of $12.00 and a 1-year high of $14.01.
In related news, major shareholder K.I.S.S. Dynasty Trust No. 5 sold 1,543,459 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $12.00, for a total value of $18,521,508.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas W. Jr. Lopp acquired 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was bought at an average cost of $12.00 per share, with a total value of $84,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 24,600 shares of company stock valued at $295,200 and sold 2,305,855 shares valued at $27,670,260.
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Sterling Bancorp Company 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.
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