Integrated Wealth Concepts LLC Has $2.88 Million Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Integrated Wealth Concepts LLC trimmed its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,694 shares of the financial services provider's stock after selling 12,420 shares during the period. Integrated Wealth Concepts LLC owned approximately 0.18% of S&T Bancorp worth $2,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of STBA. International Assets Investment Management LLC lifted its stake in S&T Bancorp by 4,095.0% in the third quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 819 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 worth $49,000 after purchasing an additional 526 shares during the period. Innealta Capital LLC acquired a new position in S&T Bancorp during the second quarter worth approximately $53,000. Denali Advisors LLC bought a new stake in S&T Bancorp in the second quarter valued at approximately $200,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of S&T Bancorp in the third quarter valued at approximately $204,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Stock Performance

S&T Bancorp stock traded up $0.33 during trading hours on Friday, hitting $42.89. The company had a trading volume of 139,677 shares, compared to its average volume of 161,516. S&T Bancorp, Inc. has a one year low of $28.83 and a one year high of $45.79. The firm has a market cap of $1.64 billion, a PE ratio of 12.22 and a beta of 0.83. The firm has a 50-day moving average of $40.96 and a 200 day moving average of $38.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $98.90 million. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. On average, sell-side analysts expect 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. Shareholders of record on Thursday, November 7th were paid a $0.34 dividend. 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. This represents a $1.36 annualized dividend and a yield of 3.17%. S&T Bancorp's payout ratio is 38.75%.

Insider Buying and Selling at S&T Bancorp

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total value of $215,272.22. Following the completion of the transaction, the director now owns 23,143 shares of the company's stock, valued at $1,000,009.03. The trade was a 17.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.38% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th.

S&T Bancorp Company 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.