News to Watch: Sterling Bancorp (NYSE:STL)

 Sterling Bancorp (NYSE:STL) stock declared change of 36.43% away from 52-week low price and recently located move of -3.88% off 52-week high price. It has market worth of $4.29B and dividend yield of 1.31%. STL stock has been recorded 4.15% away from 50 day moving average and 5.18% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.80% off 20-day moving average.

 On Dec. 16, 2019, Sterling Bancorp (NYSE:STL) the parent holding company of Sterling National Bank, disclosed the closing of its underwritten public offering of $275,000,000 aggregate principal amount of its 4.00% fixed-to-floating rate subordinated notes due 2029 (the Notes). Sandler O’Neill + Partners, L.P., Keefe, Bruyette & Woods, A Stifel Company, and U.S. Bancorp Investments acted as joint book-running managers for the offering.

The Company expects to use the net proceeds of this offering for general corporate purposes, including the repayment of certain outstanding indebtedness.

About Sterling Bancorp

Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of services and solutions to business owners, their families and consumers within the communities it serves through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. The Financial sector company, Sterling Bancorp noticed change of 0.33% to $21.31 along volume of 2795903 shares in recent session compared to an average volume of 1.39M. The stock observed return of 0.85% in 5 days trading activity. The stock was at 4.10% over one month performance. STL’s shares are at 4.31% for the quarter and driving a 33.02% return over the course of the past year and is now at 29.07% since this point in 2018. 

 The average volatility for the week at 1.59% and for month was at 1.63%. There are 201.38M shares outstanding and 198.87M shares are floated in market. Right now the stock beta is 1.39. 

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