Fmr LLC Increases Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Fmr LLC grew its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 180.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,256 shares of the financial services provider’s stock after buying an additional 11,744 shares during the quarter. Fmr LLC’s holdings in S&T Bancorp were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its holdings in S&T Bancorp by 67.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,777 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 4,760 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of S&T Bancorp by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the financial services provider’s stock worth $641,000 after buying an additional 300 shares during the last quarter. Bank of New York Mellon Corp grew its position in S&T Bancorp by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after buying an additional 4,126 shares during the period. Legato Capital Management LLC grew its position in S&T Bancorp by 2.2% during the second quarter. Legato Capital Management LLC now owns 31,965 shares of the financial services provider’s stock valued at $1,067,000 after buying an additional 703 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in S&T Bancorp by 3.0% during the second quarter. Panagora Asset Management Inc. now owns 227,271 shares of the financial services provider’s stock valued at $7,589,000 after buying an additional 6,518 shares during the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at S&T Bancorp

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of the firm’s stock in a transaction on 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 transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.38% of the company’s stock.

S&T Bancorp Stock Performance

Shares of STBA opened at $41.85 on Wednesday. The business has a 50-day simple moving average of $41.32 and a two-hundred day simple moving average of $39.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. S&T Bancorp, Inc. has a 52 week low of $28.83 and a 52 week high of $45.79. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 12.10 and a beta of 0.83.

S&T Bancorp (NASDAQ:STBA) 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. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. The company had revenue of $96.35 million during the quarter, compared to analyst estimates of $98.90 million. On average, analysts expect that S&T Bancorp, Inc. will post 3.36 EPS for the current year.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Thursday, November 7th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s dividend 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.