Sterling Bancorp (STL) is Initiated by Hovde Group to Outperform, Price Target at $20

Sterling Bancorp (STL) was Initiated by Hovde Group to “Outperform” and the brokerage firm has set the Price Target at $20. Hovde Group advised their investors in a research report released on Oct 10, 2016.

Sterling Bancorp (STL) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $17.52 and reached the intraday high at $17.58. The bulls started the profit booking and pushed the shares to intraday low of $17.25. The trading session was marked by a volume range of 6,84,942 shares exchanging hands. The 52-week high of the shares is $17.9 and the 52-week low is $13.44. The market cap of the company stands at $2,294 M and there are 13,06,55,998 shares in public circulation.

In a different news, on Sep 13, 2016, Richard L. O’toole (director) purchased 3,000 shares at $17.40 per share price. According to the SEC, on Sep 1, 2016, James F. Deutsch (director) sold 100,000 shares at $17.58 per share price. On Aug 29, 2016, Craig S Thompson (director) sold 4,847 shares at $17.20 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Sterling Bancorp

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