S&T Bancorp, Inc. (NASDAQ:STBA) Sees Significant Drop in Short Interest

S&T Bancorp, Inc. (NASDAQ:STBA) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 788,100 shares, a decrease of 18.8% from the October 15th total of 970,100 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 152,200 shares, the short-interest ratio is presently 5.2 days.

Insider Buying and Selling at S&T Bancorp

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total transaction of $215,272.22. Following the transaction, the director now owns 23,143 shares in the company, valued at $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 available through this hyperlink. Insiders own 1.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STBA. Geode Capital Management LLC grew its stake in shares of S&T Bancorp by 1.2% in the third quarter. Geode Capital Management LLC now owns 925,490 shares of the financial services provider’s stock valued at $38,850,000 after acquiring an additional 10,603 shares in the last quarter. Barclays PLC boosted its stake in shares of S&T Bancorp by 124.4% in the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock valued at $3,116,000 after purchasing an additional 41,148 shares during the last quarter. Zacks Investment Management bought a new stake in S&T Bancorp in the third quarter worth approximately $255,000. Jane Street Group LLC grew its stake in S&T Bancorp by 35.2% in the third quarter. Jane Street Group LLC now owns 43,214 shares of the financial services provider’s stock valued at $1,814,000 after acquiring an additional 11,252 shares during the period. Finally, Stifel Financial Corp lifted its stake in S&T Bancorp by 2.3% during the 3rd quarter. Stifel Financial Corp now owns 13,646 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 303 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA traded down $0.07 during midday trading on Friday, reaching $42.34. 142,146 shares of the company’s stock were exchanged, compared to its average volume of 163,321. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99. The company’s 50 day simple moving average is $40.79 and its two-hundred day simple moving average is $37.70. The firm has a market capitalization of $1.62 billion, a PE ratio of 12.06 and a beta of 0.80. S&T Bancorp has a 12 month low of $27.43 and a 12 month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. The firm had revenue of $96.35 million during the quarter, compared to the consensus estimate of $98.90 million. Equities research analysts expect that S&T Bancorp 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. Stockholders of record on Thursday, November 7th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s payout ratio is currently 38.75%.

Analyst Ratings Changes

STBA has been the subject of a number of analyst reports. 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 target price on S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 19th.

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.