Huntington National Bank Decreases Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Huntington National Bank reduced its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 24.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,272 shares of the financial services provider’s stock after selling 754 shares during the quarter. Huntington National Bank’s holdings in S&T Bancorp were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in shares of 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 acquiring an additional 819 shares during the period. GAMMA Investing LLC grew its holdings 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 valued at $49,000 after purchasing an additional 526 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of S&T Bancorp in the second quarter valued at $53,000. EntryPoint Capital LLC raised its stake in shares of S&T Bancorp by 188.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock worth $92,000 after buying an additional 1,863 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of S&T Bancorp in the 1st quarter worth about $152,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the stock in a transaction 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 transaction, the director now owns 23,143 shares of the company’s stock, valued at $1,000,009.03. This represents a 17.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.38% of the stock is owned by corporate insiders.

S&T Bancorp Trading Down 0.5 %

Shares of S&T Bancorp stock opened at $42.13 on Tuesday. The business has a 50 day moving average price of $40.79 and a 200 day moving average price of $37.80. The company has a market capitalization of $1.61 billion, a P/E ratio of 12.00 and a beta of 0.80. 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, Inc. has a 1 year low of $27.43 and a 1 year high of $45.79.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $96.35 million during 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%. Sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.36 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.23%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, November 7th. S&T Bancorp’s dividend payout ratio is 38.75%.

About S&T Bancorp

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.