Readystate Asset Management LP Buys New Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Readystate Asset Management LP acquired a new position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 14,546 shares of the financial services provider's stock, valued at approximately $610,000.

Several other large investors also recently bought and sold shares of STBA. International Assets Investment Management LLC increased 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 worth $35,000 after buying an additional 819 shares in the last quarter. GAMMA Investing LLC boosted its position in S&T Bancorp by 80.8% in 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 last quarter. Innealta Capital LLC purchased a new position in S&T Bancorp in the second quarter worth about $53,000. Denali Advisors LLC purchased a new position in S&T Bancorp in the second quarter worth about $200,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in S&T Bancorp in the third quarter worth about $204,000. 65.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp 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 owns 23,143 shares of the company's stock, valued at approximately $1,000,009.03. This trade represents a 17.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.38% of the company's stock.

S&T Bancorp Stock Performance

NASDAQ:STBA traded up $0.33 on Friday, hitting $42.89. The stock had a trading volume of 139,677 shares, compared to its average volume of 161,516. S&T Bancorp, Inc. has a 52-week low of $28.83 and a 52-week high of $45.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 12.22 and a beta of 0.83. The business's 50-day simple moving average is $40.99 and its two-hundred day simple moving average is $38.85.

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 for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. The firm had revenue of $96.35 million for the quarter, compared to analysts' expectations of $98.90 million. As a group, research analysts predict that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.

S&T Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.34 per share. This is a boost from S&T Bancorp's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Thursday, November 7th. S&T Bancorp's payout ratio is presently 38.75%.

S&T Bancorp 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.