Sterling Bancorp (NASDAQ:SBT) Sees Significant Growth in Short Interest

Sterling Bancorp (NASDAQ:SBT - Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 328,600 shares, a growth of 20.9% from the September 30th total of 271,800 shares. Based on an average daily trading volume, of 42,900 shares, the short-interest ratio is presently 7.7 days. Approximately 1.9% of the shares of the stock are sold short.

Sterling Bancorp Trading Down 2.1 %

SBT traded down $0.10 on Wednesday, reaching $4.68. The stock had a trading volume of 34,319 shares, compared to its average volume of 37,977. The firm has a 50-day moving average of $5.01 and a 200-day moving average of $5.12. Sterling Bancorp has a fifty-two week low of $4.40 and a fifty-two week high of $6.01. The company has a market capitalization of $243.48 million, a price-to-earnings ratio of 29.75 and a beta of 0.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Sterling Bancorp by 5.0% in the 2nd 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 during the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 66,148 shares during the period. Princeton Capital Management LLC raised its holdings in Sterling Bancorp by 60.6% during the 2nd quarter. Princeton Capital Management LLC now owns 26,511 shares of the company's stock worth $139,000 after purchasing an additional 10,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Sterling Bancorp by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,085 shares of the company's stock worth $466,000 after purchasing an additional 2,357 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Sterling Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,461,987 shares of the company's stock valued at $7,544,000 after purchasing an additional 8,077 shares during the last quarter. Institutional investors and hedge funds 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.