Fmr LLC Grows Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Fmr LLC raised its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 180.3% during the third quarter, HoldingsChannel.com reports. The firm owned 18,256 shares of the financial services provider’s stock after purchasing an additional 11,744 shares during the period. Fmr LLC’s holdings in S&T Bancorp were worth $766,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in STBA. Hennion & Walsh Asset Management Inc. raised its holdings in shares of S&T Bancorp by 67.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,777 shares of the financial services provider’s stock worth $393,000 after buying an additional 4,760 shares during the period. Louisiana State Employees Retirement System boosted its holdings in S&T Bancorp by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 300 shares during the period. Bank of New York Mellon Corp grew its position in S&T Bancorp by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after acquiring an additional 4,126 shares during the last quarter. Legato Capital Management LLC increased its stake in S&T Bancorp by 2.2% in the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 703 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in S&T Bancorp by 3.0% in the second quarter. Panagora Asset Management Inc. now owns 227,271 shares of the financial services provider’s stock worth $7,589,000 after purchasing an additional 6,518 shares during the period. Institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $41.85 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $1.60 billion, a PE ratio of 12.10 and a beta of 0.83. The company has a 50 day moving average price of $41.32 and a 200-day moving average price of $39.38. S&T Bancorp, Inc. has a fifty-two week low of $28.83 and a fifty-two week high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. The business had revenue of $96.35 million during the quarter, compared to analyst estimates of $98.90 million. As a group, equities analysts forecast that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.

S&T Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 3.25%. S&T Bancorp’s dividend payout ratio is 38.75%.

Insiders Place Their Bets

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total transaction of $215,272.22. Following the completion of the sale, the director now owns 23,143 shares in the company, valued at $1,000,009.03. This represents a 17.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.38% of the stock is owned by company insiders.

S&T Bancorp Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.