S&T Bancorp, Inc. (NASDAQ:STBA) Shares Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. lifted its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBAFree Report) by 212.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,698 shares of the financial services provider’s stock after acquiring an additional 159,019 shares during the quarter. Panagora Asset Management Inc. owned about 0.61% of S&T Bancorp worth $6,329,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of S&T Bancorp by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 510,968 shares of the financial services provider’s stock valued at $15,115,000 after purchasing an additional 1,900 shares in the last quarter. Citigroup Inc. grew its position in S&T Bancorp by 10.9% in the first quarter. Citigroup Inc. now owns 35,073 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 3,456 shares during the last quarter. Bank of Montreal Can grew its position in S&T Bancorp by 89.3% in the first quarter. Bank of Montreal Can now owns 30,481 shares of the financial services provider’s stock worth $931,000 after buying an additional 14,381 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of S&T Bancorp by 49.6% in the first quarter. MetLife Investment Management LLC now owns 21,802 shares of the financial services provider’s stock valued at $645,000 after buying an additional 7,227 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of S&T Bancorp by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,924 shares of the financial services provider’s stock valued at $1,003,000 after acquiring an additional 4,183 shares during the last quarter. Institutional investors and hedge funds own 63.42% of the company’s stock.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $32.04 on Thursday. S&T Bancorp, Inc. has a fifty-two week low of $24.51 and a fifty-two week high of $38.43. The firm’s 50 day simple moving average is $30.77 and its 200-day simple moving average is $29.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $1.23 billion, a P/E ratio of 8.41 and a beta of 0.78.

S&T Bancorp (NASDAQ:STBAGet Free Report) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $135.14 million for the quarter, compared to analysts’ expectations of $101.80 million. S&T Bancorp had a return on equity of 12.21% and a net margin of 29.04%. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, equities research analysts predict that S&T Bancorp, Inc. will post 3.65 EPS for the current year.

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Thursday, November 9th were issued a dividend of $0.33 per share. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Wednesday, November 8th. S&T Bancorp’s dividend payout ratio (DPR) is currently 34.65%.

Analyst Ratings Changes

Separately, StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th.

Get Our Latest Stock Report on STBA

About S&T Bancorp

(Free Report)

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Business Banking, Commercial Construction, Consumer Real Estate, and Other Consumer.

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

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