Thrivent Financial for Lutherans lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA – Free Report) by 5.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 30,042 shares of the financial services provider’s stock after selling 1,699 shares during the period. Thrivent Financial for Lutherans’ holdings in S&T Bancorp were worth $1,261,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in S&T Bancorp by 1.4% during the second 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 in the last quarter. American Century Companies Inc. lifted its stake in S&T Bancorp by 29.0% during the 2nd quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock worth $19,761,000 after acquiring an additional 133,108 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in S&T Bancorp by 0.9% during the 2nd 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 acquiring an additional 4,126 shares during the period. Earnest Partners LLC grew its position in S&T Bancorp by 19.8% in the 2nd quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock valued at $9,602,000 after acquiring an additional 47,450 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in S&T Bancorp by 3.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 227,271 shares of the financial services provider’s stock valued at $7,589,000 after acquiring an additional 6,518 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.
S&T Bancorp Stock Performance
Shares of STBA stock opened at $42.79 on Monday. The firm has a 50 day moving average of $40.89 and a two-hundred day moving average of $38.59. The stock has a market capitalization of $1.64 billion, a PE ratio of 12.19 and a beta of 0.80. 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 $27.43 and a 52 week high of $45.79.
S&T Bancorp (NASDAQ:STBA – Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. The firm had revenue of $96.35 million during the quarter, compared to analysts’ expectations of $98.90 million. On average, research analysts predict 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 was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, November 7th. S&T Bancorp’s dividend payout ratio is presently 38.75%.
Wall Street Analysts Forecast Growth
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.
Check Out Our Latest Research Report on S&T Bancorp
Insider Activity at S&T Bancorp
In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $43.21, for a total value of $215,272.22. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.38% of the stock is owned by corporate insiders.
About S&T Bancorp
(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.
See Also
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