S&T Bancorp, Inc. (NASDAQ:STBA) Shares Acquired by Diversified Trust Co

Diversified Trust Co boosted its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,264 shares of the financial services provider’s stock after purchasing an additional 737 shares during the period. Diversified Trust Co’s holdings in S&T Bancorp were worth $354,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of S&T Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 925,490 shares of the financial services provider’s stock valued at $38,850,000 after buying an additional 10,603 shares during the period. Barclays PLC raised its stake in shares of S&T Bancorp by 124.4% during the third quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock valued at $3,116,000 after purchasing an additional 41,148 shares during the period. Jane Street Group LLC raised its stake in shares of S&T Bancorp by 35.2% during the third quarter. Jane Street Group LLC now owns 43,214 shares of the financial services provider’s stock valued at $1,814,000 after purchasing an additional 11,252 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of S&T Bancorp during the third quarter worth $295,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of S&T Bancorp in the third quarter valued at $204,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related 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 sale, the director now directly owns 23,143 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 1.38% of the company’s stock.

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $35.43 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. S&T Bancorp, Inc. has a fifty-two week low of $28.83 and a fifty-two week high of $45.79. The business has a 50 day moving average price of $40.89 and a two-hundred day moving average price of $40.28. The firm has a market cap of $1.36 billion, a PE ratio of 10.09 and a beta of 0.84.

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, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $96.35 million during the quarter, compared to the consensus estimate of $98.90 million. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.36 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 3.84%. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s payout ratio is presently 38.75%.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.