Advisors Asset Management Inc. Raises Holdings in S&T Bancorp, Inc. (STBA)

Advisors Asset Management Inc. raised its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,501 shares of the financial services provider’s stock after buying an additional 1,676 shares during the quarter. Advisors Asset Management Inc. owned 0.06% of S&T Bancorp worth $772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burt Wealth Advisors grew its holdings in S&T Bancorp by 3.1% in the 2nd quarter. Burt Wealth Advisors now owns 3,323 shares of the financial services provider’s stock valued at $115,000 after buying an additional 100 shares in the last quarter. KBC Group NV acquired a new position in S&T Bancorp in the 2nd quarter valued at $161,000. Victory Capital Management Inc. grew its holdings in S&T Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,722 shares of the financial services provider’s stock valued at $169,000 after buying an additional 708 shares in the last quarter. Advisor Group Inc. grew its holdings in S&T Bancorp by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 4,894 shares of the financial services provider’s stock valued at $175,000 after buying an additional 53 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in S&T Bancorp in the 3rd quarter valued at $216,000. 55.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of S&T Bancorp, Inc. (STBA) opened at $41.37 on Monday. The stock has a market capitalization of $1,450.00, a price-to-earnings ratio of 17.76 and a beta of 0.86. S&T Bancorp, Inc. has a 1-year low of $31.72 and a 1-year high of $43.17. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. The company had revenue of $71.01 million for the quarter, compared to analyst estimates of $73.70 million. S&T Bancorp had a return on equity of 9.41% and a net margin of 26.44%. During the same period in the prior year, the firm posted $0.59 EPS. research analysts anticipate that S&T Bancorp, Inc. will post 2.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were issued a dividend of $0.22 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Wednesday, November 1st. S&T Bancorp’s dividend payout ratio is 37.93%.

In related news, Director David Krieger sold 1,201 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $41.78, for a total transaction of $50,177.78. Following the completion of the sale, the director now directly owns 18,045 shares in the company, valued at approximately $753,920.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank W. Jones sold 850 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $41.32, for a total value of $35,122.00. Following the sale, the director now owns 24,215 shares of the company’s stock, valued at $1,000,563.80. The disclosure for this sale can be found here. Corporate insiders own 2.71% of the company’s stock.

A number of research analysts have commented on STBA shares. Zacks Investment Research raised S&T Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, October 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $41.50 price objective on shares of S&T Bancorp in a report on Friday, October 20th. Boenning Scattergood reissued a “hold” rating on shares of S&T Bancorp in a report on Friday, October 20th. BidaskClub raised S&T Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $36.50 target price on shares of S&T Bancorp in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.33.

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S&T Bancorp Company Profile

S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.

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Institutional Ownership by Quarter for S&T Bancorp (NASDAQ:STBA)

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