Stonebridge Financial Group LLC Purchases New Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Stonebridge Financial Group LLC acquired a new position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 24,656 shares of the financial services provider’s stock, valued at approximately $942,000.

Several other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new stake in S&T Bancorp during the 4th quarter worth $3,297,000. Charles Schwab Investment Management Inc. grew its holdings in shares of 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. Barclays PLC increased its position in 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 acquiring an additional 41,148 shares during the period. Confluence Wealth Services Inc. raised its stake in S&T Bancorp by 137.8% during the 4th quarter. Confluence Wealth Services Inc. now owns 30,806 shares of the financial services provider’s stock valued at $1,146,000 after acquiring an additional 17,850 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in S&T Bancorp during the 3rd quarter worth approximately $610,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $40.03 on Tuesday. The company’s fifty day moving average is $39.25 and its two-hundred day moving average is $40.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $1.53 billion, a P/E ratio of 11.74 and a beta of 0.84. S&T Bancorp, Inc. has a one year low of $28.83 and a one year high of $45.79.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. S&T Bancorp had a net margin of 23.24% and a return on equity of 9.77%. Analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be given a $0.34 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 3.40%. S&T Bancorp’s dividend payout ratio is presently 39.88%.

Insider Transactions at S&T Bancorp

In other news, Director Frank J. Palermo, Jr. sold 4,982 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total value of $215,272.22. Following the completion of the transaction, the director now directly owns 23,143 shares of the company’s stock, valued at $1,000,009.03. The trade was a 17.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.38% of the company’s stock.

S&T Bancorp Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.