Short Interest Update on Sterling Bancorp (STL)

Sterling Bancorp (STL) : 5 days before expiry, shorts in Sterling Bancorp (STL) have reduced from 4,849,231 on Jul 29, 2016, to 4,350,249 on August 15, 2016. On an average, 806,645 shares are traded on the exchange. The outstanding bearish positions are equal to 3.5% of the float. Short sellers have covered -498,982 shares, a reduction of -10.3%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Sterling Bancorp (NYSE:STL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.17 and $17.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.18, notching a gain of 0.06% for the day. The total traded volume was 577,062 . The stock had closed at $17.17 on the previous day.


In a related news, Kahn Thomas G, director of Sterling Bancorp, unloaded 2,997 shares at an average price of $17.22 on August 18, 2016. The total amount of the transaction was worth $51,608, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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