Charles Schwab Investment Management Inc. lifted its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 3.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,432,510 shares of the financial services provider's stock after purchasing an additional 43,268 shares during the period. Charles Schwab Investment Management Inc. owned about 3.74% of S&T Bancorp worth $60,122,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in 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 valued at $35,000 after purchasing an additional 819 shares in the last quarter. GAMMA Investing LLC boosted its holdings in S&T Bancorp by 80.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 526 shares in the last quarter. Innealta Capital LLC purchased a new stake in S&T Bancorp in the 2nd quarter valued at approximately $53,000. Wealth Enhancement Advisory Services LLC purchased a new stake in S&T Bancorp in the 3rd quarter valued at approximately $204,000. Finally, Sapient Capital LLC purchased a new stake in S&T Bancorp in the 3rd quarter valued at approximately $223,000. Institutional investors and hedge funds own 65.22% of the company's stock.
S&T Bancorp Price Performance
Shares of NASDAQ:STBA traded down $0.58 during trading on Friday, hitting $42.79. 99,729 shares of the stock were exchanged, compared to its average volume of 162,127. The company has a fifty day moving average price of $40.89 and a two-hundred day moving average price of $38.49. S&T Bancorp, Inc. has a 12-month low of $27.43 and a 12-month high of $45.79. The company has a market cap of $1.64 billion, a PE ratio of 12.19 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08.
S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $96.35 million during the quarter, compared to analysts' expectations of $98.90 million. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. On average, analysts forecast that S&T Bancorp, Inc. will post 3.36 EPS for the current year.
S&T Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.18%. This is a boost from S&T Bancorp's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, November 7th. S&T Bancorp's dividend payout ratio (DPR) is presently 38.75%.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised S&T Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, October 24th.
View Our Latest Stock Report on STBA
Insider Buying and Selling
In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $43.21, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.38% of the stock is currently owned by insiders.
S&T Bancorp Company Profile
(
Free Report)
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.
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