Confluence Wealth Services Inc. Has $1.15 Million Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Confluence Wealth Services Inc. raised its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 137.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,806 shares of the financial services provider’s stock after purchasing an additional 17,850 shares during the period. Confluence Wealth Services Inc.’s holdings in S&T Bancorp were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in S&T Bancorp by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 925,490 shares of the financial services provider’s stock valued at $38,850,000 after buying an additional 10,603 shares in the last quarter. Barclays PLC grew its holdings in S&T Bancorp by 124.4% in the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 41,148 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in S&T Bancorp by 25.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,132 shares of the financial services provider’s stock valued at $578,000 after buying an additional 3,029 shares in the last quarter. Jane Street Group LLC grew its holdings in S&T Bancorp by 35.2% in the 3rd quarter. Jane Street Group LLC now owns 43,214 shares of the financial services provider’s stock valued at $1,814,000 after buying an additional 11,252 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in S&T Bancorp in the 3rd quarter valued at $295,000. 65.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frank J. Palermo, Jr. sold 4,982 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,000,009.03. This represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

S&T Bancorp Price Performance

Shares of STBA stock opened at $40.33 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a twelve month low of $28.83 and a twelve month high of $45.79. The company has a market cap of $1.54 billion, a P/E ratio of 11.83 and a beta of 0.84. The business has a fifty day simple moving average of $39.39 and a 200 day simple moving average of $40.66.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that S&T Bancorp, Inc. will post 3.03 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be issued a $0.34 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 3.37%. S&T Bancorp’s payout ratio is presently 39.88%.

About S&T Bancorp

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.