S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) Director Frank J. Palermo, Jr. sold 4,982 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total value of $215,272.22. Following the completion of the sale, the director now owns 23,143 shares in the company, valued at approximately $1,000,009.03. This represents a 17.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
S&T Bancorp Trading Down 0.4 %
NASDAQ:STBA traded down $0.15 during trading hours on Friday, hitting $42.26. The company had a trading volume of 17,167 shares, compared to its average volume of 162,758. S&T Bancorp, Inc. has a 1 year low of $27.43 and a 1 year high of $45.79. The company has a market cap of $1.62 billion, a P/E ratio of 12.08 and a beta of 0.80. The company has a 50-day moving average of $40.76 and a 200 day moving average of $37.58. 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 (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $96.35 million for the quarter, compared to analyst estimates of $98.90 million. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. Sell-side analysts expect that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.
S&T Bancorp Increases Dividend
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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 given a $0.34 dividend. This is a positive change from S&T Bancorp's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.22%. S&T Bancorp's payout ratio is presently 38.75%.
Hedge Funds Weigh In On S&T Bancorp
Institutional investors have recently bought and sold shares of the company. Earnest Partners LLC lifted its holdings in S&T Bancorp by 569.7% during the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider's stock worth $7,704,000 after buying an additional 204,281 shares in the last quarter. American Century Companies Inc. raised its stake in shares of S&T Bancorp by 29.0% in the second quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider's stock valued at $19,761,000 after acquiring an additional 133,108 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in S&T Bancorp by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,432,510 shares of the financial services provider's stock worth $60,122,000 after purchasing an additional 43,268 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in S&T Bancorp by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider's stock worth $80,064,000 after purchasing an additional 32,935 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in S&T Bancorp by 23.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,151 shares of the financial services provider's stock valued at $5,381,000 after purchasing an additional 30,945 shares in the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on STBA shares. StockNews.com upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. DA Davidson increased their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a "neutral" rating in a report on Friday, July 19th.
Read Our Latest Analysis on S&T Bancorp
S&T Bancorp Company Profile
(
Get Free Report)
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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