Sterling Bancorp shares are trading higher after the company announced the sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp. Also, the company adopted a plan of dissolution and expects to wind down as quickly as possible after the sale.
Portfolio Pulse from Benzinga Newsdesk
Sterling Bancorp shares rose following the announcement of the sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp. The company plans to dissolve and wind down operations post-sale.
September 16, 2024 | 12:25 pm
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Sterling Bancorp's stock is trading higher due to the sale of its banking unit to EverBank Financial Corp. The company plans to dissolve after the sale, indicating a significant change in its business structure.
The sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp is a major corporate action that has positively impacted Sterling Bancorp's stock price. The plan to dissolve indicates a complete wind-down of operations, which is a significant event for investors.
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