Alliancebernstein L.P. Boosts Position in Sterling Bancorp (NASDAQ:SBT)

Alliancebernstein L.P. raised its stake in Sterling Bancorp (NASDAQ:SBT - Free Report) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,314,744 shares of the company's stock after buying an additional 131,754 shares during the period. Alliancebernstein L.P. owned about 4.43% of Sterling Bancorp worth $11,018,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Sterling Bancorp in the fourth quarter worth approximately $51,000. JPMorgan Chase & Co. lifted its holdings in shares of Sterling Bancorp by 131.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,031 shares of the company's stock worth $105,000 after acquiring an additional 13,096 shares during the last quarter. Barclays PLC lifted its holdings in shares of Sterling Bancorp by 206.1% in the 3rd quarter. Barclays PLC now owns 27,819 shares of the company's stock worth $126,000 after acquiring an additional 18,730 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 40,414 shares in the last quarter. Institutional investors own 26.37% of the company's stock.

Sterling Bancorp Price Performance

Shares of NASDAQ:SBT remained flat at $4.84 on Tuesday. The company has a market cap of $253.13 million, a price-to-earnings ratio of 96.82 and a beta of 0.54. The firm has a 50-day moving average of $4.75 and a 200 day moving average of $4.74. Sterling Bancorp has a 12-month low of $4.40 and a 12-month high of $5.97.

Sterling Bancorp (NASDAQ:SBT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.02 earnings per share for the quarter. Sterling Bancorp had a return on equity of 0.65% and a net margin of 1.57%.

Sterling Bancorp 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.