Charles Schwab Investment Management Inc. raised its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA – Free Report) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm 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.’s holdings in S&T Bancorp were worth $60,122,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in shares of S&T Bancorp by 1.6% during 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 in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position 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 worth $508,000 after purchasing an additional 326 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of S&T Bancorp by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 19,436 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 498 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 in the last quarter. Finally, HBK Sorce Advisory LLC raised its position in shares of S&T Bancorp by 4.2% during the 2nd quarter. HBK Sorce Advisory LLC now owns 14,557 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 584 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.
Insider Activity
In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of the 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 completion of the transaction, the director now directly owns 23,143 shares of the company’s stock, valued at approximately $1,000,009.03. This represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.38% of the company’s stock.
S&T Bancorp Stock Down 1.3 %
Shares of STBA opened at $42.79 on Friday. The business’s 50 day moving average is $40.89 and its 200 day moving average is $38.49. 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, Inc. has a 12-month low of $27.43 and a 12-month high of $45.79. The company has a market capitalization of $1.64 billion, a PE ratio of 12.19 and a beta of 0.80.
S&T Bancorp (NASDAQ:STBA – Get Free Report) last released 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. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. The firm had revenue of $96.35 million for the quarter, compared to analysts’ expectations of $98.90 million. Research analysts expect that S&T Bancorp, Inc. will post 3.36 earnings per share for the current fiscal year.
S&T Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s dividend payout ratio is 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.
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