Sterling Bancshares Looking Golden (SBIB)

Shares of Sterling Bancshares SBIB are rocketing higher this morning by 9.93%, currently trading at $5.98. The company announced yesterday, after the closing bell, that TAC Capital LLC is looking to nominate 5 individuals to its board. TAC Capital LLC is SBIB's largest shareholder, with an ownership position of nearly 10%. They said that they are “very frustrated with the continued poor performance of our investment in the bank over the four and a half years we have been a shareholder.” Within the first 30 minutes of trading, shares have already traded 0.42x the 10-day daily average volume. SBIB is now narrowing its sites on the 52-week high of $6.33. Sterling Bancshares, Inc. is a bank holding company. The company operates through its wholly owned subsidiary, Sterling Bank. The company provides commercial and consumer banking services in the metropolitan areas of Houston, San Antonio, Dallas and Fort Worth, Texas through the 58 banking centers of the bank.