Sterling Bancorp (STL) Moves Higher on Volume Spike for January 24

Sterling Bancorp (STL) Moves Higher on Volume Spike for January 24

Sterling Bancorp (STL) traded on unusually high volume on Jan. 24, as the stock gained 3.23% to close at $18.88. On the day, Sterling Bancorp saw 5.43 million shares trade hands on 30,344 trades. Considering that the stock averages only a daily volume of 3.44 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $26.35 and $15.62 over the last 52-weeks, its 50-day SMA is now $17.71, and its 200-day SMA $21.38. Sterling Bancorp has a P/B ratio of 0.99. It also has a P/E ratio of 16.6.

Sterling Bancorp is a financial and bank holding company that operates primarily through its wholly owned subsidiary, Sterling National Bank. Sterling National Bank is a full-service regional bank that primarily delivers products and services to small and middle market commercial businesses and affluent consumers. Those products and services include deposit, lending, and wealth management products. The bank’s strategy emphasizes growth, efficiency, and relationship building with its niche target market. It primarily operates in the New York metropolitan and suburban markets. Nearly all of its loan portfolio is in commercial loans, a plurality of which is in commercial real estate, followed by traditional commercial and industrial loans.

Headquartered in Montebello, NY, Sterling Bancorp has 1,959 employees and is currently under the leadership of CEO Jack L. Kopnisky.

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