Netols Asset Management Lowers stake in Sterling Bancorp (STL)

Sterling Bancorp (STL) : Netols Asset Management reduced its stake in Sterling Bancorp by 3.74% during the most recent quarter end. The investment management company now holds a total of 508,550 shares of Sterling Bancorp which is valued at $8,665,692 after selling 19,774 shares in Sterling Bancorp , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Sterling Bancorp makes up approximately 1.90% of Netols Asset Management’s portfolio.

Other Hedge Funds, Including , Crawford Investment Counsel Inc boosted its stake in STL in the latest quarter, The investment management firm added 46,970 additional shares and now holds a total of 646,370 shares of Sterling Bancorp which is valued at $11,014,145. Sterling Bancorp makes up approx 0.42% of Crawford Investment Counsel Inc’s portfolio.California Public Employees Retirement System reduced its stake in STL by selling 4,100 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 170,100 shares of STL which is valued at $2,876,391.Great West Life Assurance Co Can boosted its stake in STL in the latest quarter, The investment management firm added 142,580 additional shares and now holds a total of 154,379 shares of Sterling Bancorp which is valued at $2,610,549. Sterling Bancorp makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.

Sterling Bancorp closed down -0.02 points or -0.12% at $17.17 with 11,85,195 shares getting traded on Tuesday. Post opening the session at $17.31, the shares hit an intraday low of $17.17 and an intraday high of $17.46 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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