Wells Fargo & Company MN Grows Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Wells Fargo & Company MN boosted its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,252 shares of the financial services provider’s stock after acquiring an additional 410 shares during the quarter. Wells Fargo & Company MN owned 0.40% of S&T Bancorp worth $5,781,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of STBA. ExodusPoint Capital Management LP purchased a new stake in shares of S&T Bancorp during the 4th quarter valued at about $244,000. Franklin Resources Inc. bought a new stake in S&T Bancorp during the fourth quarter valued at approximately $649,000. Pictet Asset Management Holding SA bought a new stake in S&T Bancorp during the fourth quarter valued at approximately $233,000. Norges Bank purchased a new stake in S&T Bancorp during the fourth quarter valued at approximately $4,181,000. Finally, JPMorgan Chase & Co. raised its position in S&T Bancorp by 333.4% in the fourth quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider’s stock worth $5,740,000 after acquiring an additional 115,528 shares during the period. Institutional investors own 65.22% of the company’s stock.

S&T Bancorp Trading Up 1.0 %

Shares of S&T Bancorp stock opened at $34.70 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $1.33 billion, a PE ratio of 10.18 and a beta of 0.75. S&T Bancorp, Inc. has a 1-year low of $29.85 and a 1-year high of $45.79. The company’s fifty day simple moving average is $37.35 and its 200-day simple moving average is $39.06.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. As a group, equities analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Thursday, February 13th. S&T Bancorp’s dividend payout ratio is currently 39.88%.

Insiders Place Their Bets

In other news, Director Bhaskar Ramachandran bought 764 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $39.25 per share, for a total transaction of $29,987.00. Following the purchase, the director now owns 1,251 shares in the company, valued at $49,101.75. This represents a 156.88 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.23% of the company’s stock.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.