Stock Buzzer: Could Sterling Bancorp See a Reversal After This Very Strong Session?

Stock Buzzer: Could Sterling Bancorp See a Reversal After This Very Strong Session?

The stock of Sterling Bancorp (NYSE:STL) is a huge mover today! About 429,411 shares traded hands. Sterling Bancorp (NYSE:STL) has risen 27.80% since April 11, 2016 and is uptrending. It has outperformed by 21.65% the S&P500.
The move comes after 5 months positive chart setup for the $2.78 billion company. It was reported on Nov, 11 by Barchart.com. We have $24.66 PT which if reached, will make NYSE:STL worth $556.00 million more.

Sterling Bancorp (NYSE:STL) Ratings Coverage

Out of 4 analysts covering Sterling Bancorp (NYSE:STL), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Sterling Bancorp has been the topic of 5 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Wednesday, September 30 the stock rating was initiated by RBC Capital Markets with “Outperform”. The stock of Sterling Bancorp (NYSE:STL) has “Outperform” rating given on Monday, October 10 by Hovde Group. The stock of Sterling Bancorp (NYSE:STL) earned “Buy” rating by Zacks on Tuesday, August 18. Maxim Group initiated the stock with “Buy” rating in Thursday, June 23 report.

According to Zacks Investment Research, “Sterling Bancorp is the holding company for Sterling National Bank, a financial services firm. Sterling National Bank provides various banking and financial products and services primarily in New York, New Jersey, and Connecticut. It provides depository and cash management services and a broad portfolio of financing solutions-including working capital lines, accounts receivable and inventory financing, factoring, trade financing, payroll funding and processing, equipment financing, commercial and residential mortgages and mortgage warehouse lines of credit. Sterling Bancorp, formerly known as Provident New York Bancorp, is headquartered in New York.”

Insitutional Activity: The institutional sentiment increased to 1.32 in Q2 2016. Its up 0.02, from 1.3 in 2016Q1. The ratio is positive, as 8 funds sold all Sterling Bancorp shares owned while 51 reduced positions. 13 funds bought stakes while 65 increased positions. They now own 99.15 million shares or 1.66% more from 97.54 million shares in 2016Q1.
Moreover, Sei Invs Company has 0% invested in Sterling Bancorp (NYSE:STL) for 9,312 shares. Evercore Wealth Mngmt Ltd Llc last reported 0.07% of its portfolio in the stock. Pinebridge Investments L P has 15,235 shares for 0.01% of their US portfolio. Legal General Grp Public Ltd holds 0% or 27,437 shares in its portfolio. South Dakota Council has 0.03% invested in the company for 92,800 shares. Netols Asset Mngmt has 1.81% invested in the company for 508,550 shares. Credit Suisse Ag owns 109,775 shares or 0% of their US portfolio. Blackrock Advisors Limited Liability Corp has 59,379 shares for 0% of their US portfolio. Cramer Rosenthal Mcglynn Limited Liability Company owns 1.29 million shares or 0.33% of their US portfolio. Manufacturers Life Com The reported 84,264 shares or 0% of all its holdings. First Manhattan accumulated 53,430 shares or 0.01% of the stock. Ubs Asset Mgmt Americas Incorporated holds 85,529 shares or 0% of its portfolio. Raymond James Associates last reported 0% of its portfolio in the stock. Moreover, Texas Permanent School Fund has 0.02% invested in Sterling Bancorp (NYSE:STL) for 91,859 shares. Moreover, Putnam Invests Ltd Liability Corporation has 0.01% invested in Sterling Bancorp (NYSE:STL) for 239,205 shares.

STL Company Profile

Sterling Bancorp, incorporated on June 30, 2003, is a financial holding company. The Firm is a bank holding firm that owns the Sterling National Bank (the Bank). The Bank specializes in the delivery of services and solutions to business owners, their families and clients within the communities it serves. The Bank offers a line of commercial, business, and consumer banking services and products. The Bank offers services in the New York Metro Market, which includes Manhattan and Long Island, and the New York Suburban Market, which consists of Rockland, Orange, Sullivan, Ulster, Putnam and Westchester counties in New York and Bergen County in New Jersey.

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