Hilton Capital Management buys $5,345,491 stake in Sterling Bancorp (STL)

Sterling Bancorp (STL) : Hilton Capital Management scooped up 10,610 additional shares in Sterling Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 316,676 shares of Sterling Bancorp which is valued at $5,345,491.Sterling Bancorp makes up approximately 1.76% of Hilton Capital Management’s portfolio.

Other Hedge Funds, Including , Strs Ohio reduced its stake in STL by selling 2,800 shares or 26.42% in the most recent quarter. The Hedge Fund company now holds 7,800 shares of STL which is valued at $131,664.Ls Investment Advisors boosted its stake in STL in the latest quarter, The investment management firm added 131 additional shares and now holds a total of 4,306 shares of Sterling Bancorp which is valued at $72,082.Bnp Paribas Arbitrage Sa boosted its stake in STL in the latest quarter, The investment management firm added 21,748 additional shares and now holds a total of 38,924 shares of Sterling Bancorp which is valued at $618,502.

Sterling Bancorp closed down -0.09 points or -0.53% at $16.89 with 4,88,718 shares getting traded on Friday. Post opening the session at $16.95, the shares hit an intraday low of $16.86 and an intraday high of $17.095 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Jul 26, 2016, Sterling Bancorp announced a cash dividend of $0.0700. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 8, 2016. The payable date has been fixed on Aug 23, 2016.

Many Wall Street Analysts have commented on Sterling Bancorp. Maxim Group Initiated Sterling Bancorp on Jun 23, 2016 to “Buy”, Price Target of the shares are set at $19.

Sterling Bancorp formerly Provident New York Bancorp is a holding company. The Company operates through its subsidiary Sterling National Bank (SNB) which specializes in the delivery of service and solutions to business owners their families and consumers. SNB offers a range of commercial business and consumer banking products and services. The Bank primarily originates commercial real estate loans and commercial and industrial loans. It also originates residential mortgage loans and consumer loans such as home equity lines of credit homeowner loans and personal loans in market area. The Bank invests in government and agency securities State and municipal securities equities and mortgage-backed securities. SNB offers a range of deposit accounts with a range of interest rates and terms. As of September 30 2014 the Company had over $7.3 billion in assets.

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