Invesco Ltd. Lowers Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Invesco Ltd. trimmed its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 422,193 shares of the financial services provider's stock after selling 19,204 shares during the period. Invesco Ltd. owned 1.10% of S&T Bancorp worth $16,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in S&T Bancorp by 7.7% during the 4th quarter. Bank of Montreal Can now owns 7,550 shares of the financial services provider's stock valued at $289,000 after purchasing an additional 540 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of S&T Bancorp by 89.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 13,280 shares of the financial services provider's stock valued at $508,000 after purchasing an additional 6,255 shares during the period. Wells Fargo & Company MN lifted its stake in shares of S&T Bancorp by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider's stock worth $5,781,000 after buying an additional 410 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of S&T Bancorp during the 4th quarter worth about $244,000. Finally, Franklin Resources Inc. acquired a new position in S&T Bancorp in the 4th quarter valued at about $649,000. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Stock Performance

STBA stock traded down $0.60 during mid-day trading on Friday, hitting $35.87. 20,499 shares of the company were exchanged, compared to its average volume of 164,440. S&T Bancorp, Inc. has a 1-year low of $29.85 and a 1-year high of $45.79. The stock has a market capitalization of $1.37 billion, a PE ratio of 10.52 and a beta of 0.75. The business has a 50 day simple moving average of $37.02 and a 200-day simple moving average of $38.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The business had revenue of $93.75 million during the quarter, compared to analysts' expectations of $96.40 million. On average, equities analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.79%. The ex-dividend date was Thursday, February 13th. S&T Bancorp's payout ratio is presently 39.88%.

Insider Activity

In other S&T Bancorp news, Director Bhaskar Ramachandran acquired 764 shares of S&T Bancorp stock in a transaction that occurred on Thursday, February 13th. The shares were bought 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 directly owns 1,251 shares in the company, valued at $49,101.75. This trade represents a 156.88 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.23% of the stock is currently owned by corporate insiders.

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.