State Street Corp Lowers Position in S&T Bancorp, Inc. (NASDAQ:STBA)

State Street Corp trimmed its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,674,690 shares of the financial services provider’s stock after selling 54,035 shares during the period. State Street Corp owned approximately 4.38% of S&T Bancorp worth $70,287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of S&T Bancorp by 4,095.0% in the 3rd quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock worth $35,000 after buying an additional 819 shares during the last quarter. GAMMA Investing LLC boosted its position in S&T Bancorp by 80.8% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after buying an additional 526 shares during the period. Innealta Capital LLC bought a new stake in shares of S&T Bancorp in the 2nd quarter valued at about $53,000. Denali Advisors LLC purchased a new stake in S&T Bancorp during the 2nd quarter valued at about $200,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in S&T Bancorp during the 3rd quarter worth approximately $204,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Trading Down 2.4 %

NASDAQ STBA 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. S&T Bancorp, Inc. has a fifty-two week low of $28.83 and a fifty-two week high of $45.79. The stock has a market cap of $1.60 billion, a P/E ratio of 11.92 and a beta of 0.83. The stock has a 50 day simple moving average of $41.32 and a two-hundred day simple moving average of $39.38.

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

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.34 dividend. This is an increase 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%. The ex-dividend date was Thursday, November 7th. S&T Bancorp’s dividend payout ratio is presently 38.75%.

Insider Buying and Selling

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 23,143 shares in the company, valued at approximately $1,000,009.03. This represents a 17.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

About S&T Bancorp

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.