Short Interest Don’t Lie: Sterling Bancorp (NYSE:STL) Reports Increase in Sellers; Strong Momentum for Short Players

November 15, 2016 - By Nellie Frank   ·   0 Comments

Short Interest Don't Lie: Sterling Bancorp (NYSE:STL) Reports Increase in Sellers; Strong Momentum for Short Players

The stock of Sterling Bancorp (NYSE:STL) registered an increase of 7.32% in short interest. STL’s total short interest was 3.87 million shares in November as published by FINRA. Its up 7.32% from 3.61M shares, reported previously. With 843,100 shares average volume, it will take short sellers 5 days to cover their STL’s short positions. The short interest to Sterling Bancorp’s float is 3.24%. About 903,820 shares traded hands. Sterling Bancorp (NYSE:STL) has risen 36.36% since April 13, 2016 and is uptrending. It has outperformed by 32.44% the S&P500.

Sterling Bancorp is a financial holding company. The company has a market cap of $3.06 billion. The Firm is a bank holding firm that owns the Sterling National Bank . It has a 22.11 P/E ratio. The Bank specializes in the delivery of services and solutions to business owners, their families and clients within the communities it serves.

Insitutional Activity: The institutional sentiment increased to 1.32 in Q2 2016. Its up 0.02, from 1.3 in 2016Q1. The ratio increased, 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.
Swiss Bank & Trust has 209,252 shares for 0.01% of their US portfolio. Blackrock Mngmt Limited Liability Company has 0.01% invested in the company for 575,461 shares. Brandywine Glob Management Ltd Liability Com reported 369,717 shares or 0.04% of all its holdings. Alliancebernstein L P last reported 0.02% of its portfolio in the stock. Tfs Ltd last reported 31,552 shares in the company. Bnp Paribas Arbitrage Sa last reported 38,924 shares in the company. Invesco holds 408,332 shares or 0% of its portfolio. State Teachers Retirement Systems last reported 174,116 shares in the company. Moreover, Capstone Asset Management has 0.01% invested in Sterling Bancorp (NYSE:STL) for 28,814 shares. Diamond Hill reported 753,869 shares or 0.07% of all its holdings. First Mercantile, a Tennessee-based fund reported 38,520 shares. Teachers Retirement System Of The State Of Kentucky has invested 0.02% of its portfolio in Sterling Bancorp (NYSE:STL). Moreover, Gabelli Funds Llc has 0.07% invested in Sterling Bancorp (NYSE:STL) for 769,224 shares. Blackrock Institutional Tru Na holds 3.11M shares or 0.01% of its portfolio. Moreover, Strs Ohio has 0% invested in Sterling Bancorp (NYSE:STL) for 7,800 shares.

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. The firm has “Outperform” rating given on Monday, October 10 by Hovde Group. RBC Capital Markets initiated the stock with “Outperform” rating in Wednesday, September 30 report. The firm has “Buy” rating given on Tuesday, August 18 by Zacks. The stock has “Buy” rating given by Maxim Group on Thursday, June 23.

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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By Nellie Frank


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