S&T Bancorp, Inc. (NASDAQ:STBA) Director Sells $215,272.22 in Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director Frank J. Palermo, Jr. sold 4,982 shares of the firm’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

S&T Bancorp Stock Down 0.6 %

STBA traded down $0.27 during mid-day trading on Thursday, reaching $42.41. 151,338 shares of the stock were exchanged, compared to its average volume of 163,417. The stock has a market capitalization of $1.62 billion, a PE ratio of 12.11 and a beta of 0.80. S&T Bancorp, Inc. has a 1 year low of $27.43 and a 1 year high of $45.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $40.76 and a two-hundred day moving average price of $37.58.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $96.35 million for the quarter, compared to analysts’ expectations of $98.90 million. As a group, research analysts anticipate that S&T Bancorp, Inc. will post 3.36 EPS for the current 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 paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 3.21%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s dividend payout ratio is currently 38.75%.

Institutional Trading of S&T Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of S&T Bancorp by 4,095.0% during the third quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 819 shares during the period. GAMMA Investing LLC raised 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 worth $49,000 after purchasing an additional 526 shares in the last quarter. Innealta Capital LLC bought a new position in S&T Bancorp in the second quarter worth $53,000. EntryPoint Capital LLC grew its stake in shares of S&T Bancorp by 188.0% in the first quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock worth $92,000 after acquiring 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 first quarter worth $152,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STBA shares. DA Davidson lifted their price objective on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. StockNews.com raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

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.