S&T Bancorp, Inc. (NASDAQ:STBA) Holdings Lifted by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,234 shares of the financial services provider’s stock after acquiring an additional 6,566 shares during the quarter. Empowered Funds LLC’s holdings in S&T Bancorp were worth $5,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in shares of S&T Bancorp by 45.7% in the 3rd quarter. Victory Capital Management Inc. now owns 10,725 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 3,365 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in S&T Bancorp during the third quarter worth approximately $225,000. Wealth Enhancement Advisory Services LLC bought a new stake in S&T Bancorp during the third quarter worth approximately $204,000. Mirae Asset Global Investments Co. Ltd. grew its position in S&T Bancorp by 12.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,316 shares of the financial services provider’s stock worth $959,000 after buying an additional 2,504 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of S&T Bancorp by 2.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,103 shares of the financial services provider’s stock valued at $508,000 after buying an additional 326 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Trading Down 0.2 %

Shares of STBA opened at $42.34 on Monday. S&T Bancorp, Inc. has a 1-year low of $27.43 and a 1-year high of $45.79. The business’s 50-day moving average price is $40.79 and its 200 day moving average price is $37.75. The stock has a market capitalization of $1.62 billion, a P/E ratio of 12.06 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. The business had revenue of $96.35 million during the quarter, compared to the consensus estimate of $98.90 million. Analysts expect that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.

S&T Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, November 7th. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s dividend payout ratio (DPR) is 38.75%.

Insider Activity

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of the business’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 transaction, the director now directly owns 23,143 shares of the company’s stock, valued at approximately $1,000,009.03. The trade was a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised S&T Bancorp from a “sell” rating to a “hold” rating in a research note 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.