SpiderRock Advisors LLC Sells 17,000 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

SpiderRock Advisors LLC cut its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 22.9% during the 3rd quarter, Holdings Channel reports. The fund owned 57,375 shares of the financial services provider’s stock after selling 17,000 shares during the period. SpiderRock Advisors LLC’s holdings in S&T Bancorp were worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of S&T Bancorp by 4,095.0% during the 3rd 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 position in shares of S&T Bancorp by 80.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 526 shares during the period. Innealta Capital LLC bought a new stake in shares of S&T Bancorp during the 2nd quarter valued at $53,000. EntryPoint Capital LLC raised its position in shares of S&T Bancorp by 188.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 1,863 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of S&T Bancorp during the 1st quarter valued at $152,000. 65.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on STBA. DA Davidson raised 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 report on Friday, July 19th. StockNews.com upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

S&T Bancorp Stock Performance

STBA opened at $42.16 on Friday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 12.01 and a beta of 0.80. The company has a fifty day moving average of $40.72 and a 200 day moving average of $37.33. S&T Bancorp, Inc. has a fifty-two week low of $26.40 and a fifty-two week 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.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $96.35 million during the quarter, compared to analysts’ expectations of $98.90 million. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. As a group, sell-side analysts forecast that S&T Bancorp, Inc. will post 3.36 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The firm also recently disclosed 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. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, November 7th. S&T Bancorp’s dividend payout ratio (DPR) is presently 38.75%.

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.