S&T Bancorp, Inc. (NASDAQ:STBA) Director Frank J. Palermo, Jr. Sells 4,982 Shares

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

S&T Bancorp Trading Down 0.6 %

Shares of STBA stock traded down $0.27 during trading hours on Thursday, reaching $42.41. 151,338 shares of the stock traded hands, compared to its average volume of 163,417. S&T Bancorp, Inc. has a 1-year low of $27.43 and a 1-year high of $45.79. The business has a fifty day moving average price of $40.76 and a 200 day moving average price of $37.58. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.62 billion, a PE ratio of 12.11 and a beta of 0.80.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, topping 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 company had revenue of $96.35 million for the quarter, compared to analyst estimates of $98.90 million. On average, equities research analysts forecast 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. Investors of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.21%. 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%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On S&T Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in S&T Bancorp by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider’s stock worth $80,064,000 after acquiring an additional 32,935 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in S&T Bancorp by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,432,510 shares of the financial services provider’s stock worth $60,122,000 after buying an additional 43,268 shares during the last quarter. American Century Companies Inc. increased its holdings in S&T Bancorp by 29.0% during the second quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock worth $19,761,000 after buying an additional 133,108 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of S&T Bancorp by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after purchasing an additional 4,126 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in shares of S&T Bancorp by 19.8% in the second quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock valued at $9,602,000 after acquiring an additional 47,450 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

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.