Sterling Bancorp Announces New 20,000,000 Share Repurchase Authorization
Sterling Bancorp (STL)
Last sterling bancorp earnings: 4/27 04:15 pm
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US:NYSE Investor Relations:
sterlingbancorp.com
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Source: GlobeNewswire
MONTEBELLO, N.Y., Feb. 28, 2020 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that the Board of Directors approved a new authorization for the repurchase of up to an additional 20,000,000 of the company’s outstanding common stock. The repurchases will be made in the open market or through privately negotiated transactions, over time, depending on market conditions. The stock repurchase program may be modified, extended or terminated at any time by the Board of Directors. Sterling Bancorp had approximately 198.0 million shares of common stock outstanding as of February 27, 2020, per the company’s annual report on Form 10-K for the year ended December 31, 2019. “This new authorization is consistent with our strategy of returning excess capital to our stockholders in a manner that is aligned with our internal capital generation, our need to continue investing in all of our businesses and maintaining ample capital for gr
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