S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,674,690 shares of the financial services provider's stock after selling 54,035 shares during the quarter. State Street Corp owned about 4.38% of S&T Bancorp worth $70,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its holdings in shares of S&T Bancorp by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider's stock valued at $641,000 after buying an additional 300 shares during the period. Stifel Financial Corp boosted its stake in shares of S&T Bancorp by 2.3% in the third quarter. Stifel Financial Corp now owns 13,646 shares of the financial services provider's stock valued at $573,000 after purchasing an additional 303 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of S&T Bancorp by 2.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,103 shares of the financial services provider's stock valued at $508,000 after purchasing an additional 326 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in S&T Bancorp by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider's stock worth $649,000 after buying an additional 498 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position 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 buying an additional 526 shares during the period. 65.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at S&T Bancorp

In other news, Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $43.21, for a total transaction of $215,272.22. Following the completion of the sale, the director now directly owns 23,143 shares in the company, valued at $1,000,009.03. The trade was a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.38% of the stock is owned by corporate insiders.

S&T Bancorp Stock Performance

NASDAQ:STBA traded down $2.57 during midday trading on Wednesday, reaching $39.28. The stock had a trading volume of 291,712 shares, compared to its average volume of 162,285. 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 $1.50 billion, a P/E ratio of 11.19 and a beta of 0.83. The firm has a fifty day simple moving average of $41.37 and a two-hundred day simple moving average of $39.45. S&T Bancorp, Inc. has a 12-month low of $28.83 and a 12-month high of $45.79.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $96.35 million for the quarter, compared to analysts' expectations of $98.90 million. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. On average, equities analysts expect that S&T Bancorp, Inc. will post 3.36 EPS for the current year.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from S&T Bancorp's previous quarterly dividend of $0.33. S&T Bancorp's dividend payout ratio is currently 38.75%.

Analyst Ratings Changes

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

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.