Bank of New York Mellon Corp Reduces Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Bank of New York Mellon Corp lowered its stake in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,275 shares of the financial services provider's stock after selling 22,158 shares during the period. Bank of New York Mellon Corp owned approximately 1.06% of S&T Bancorp worth $15,490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in S&T Bancorp by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,432,510 shares of the financial services provider's stock worth $60,122,000 after acquiring an additional 43,268 shares in the last quarter. Geode Capital Management LLC grew its position in S&T Bancorp by 1.2% in the third quarter. Geode Capital Management LLC now owns 925,490 shares of the financial services provider's stock worth $38,850,000 after acquiring an additional 10,603 shares in the last quarter. Principal Financial Group Inc. grew its position in S&T Bancorp by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 201,695 shares of the financial services provider's stock worth $7,709,000 after acquiring an additional 7,027 shares in the last quarter. Empowered Funds LLC grew its position in S&T Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 136,854 shares of the financial services provider's stock worth $5,231,000 after acquiring an additional 6,620 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of S&T Bancorp during the fourth quarter valued at approximately $3,297,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Stock Down 0.9 %

Shares of NASDAQ:STBA opened at $37.17 on Wednesday. S&T Bancorp, Inc. has a 1 year low of $28.83 and a 1 year high of $45.79. The business has a 50 day simple moving average of $38.61 and a two-hundred day simple moving average of $40.31. The firm has a market capitalization of $1.42 billion, a PE ratio of 10.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99.

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S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. On average, equities analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 3.66%. S&T Bancorp's dividend payout ratio (DPR) is presently 39.88%.

Insider Buying and Selling at S&T Bancorp

In related news, Director Bhaskar Ramachandran purchased 764 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $39.25 per share, with a total value of $29,987.00. Following the completion of the purchase, the director now owns 1,251 shares of the company's stock, valued at approximately $49,101.75. The trade was a 156.88 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.38% of the company's stock.

About S&T Bancorp

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.

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