Public Sector Pension Investment Board Sells 3,000 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Public Sector Pension Investment Board cut its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,173 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of S&T Bancorp worth $3,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STBA. International Assets Investment Management LLC increased its holdings in S&T Bancorp by 4,095.0% in the 3rd quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 819 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of S&T Bancorp by 80.8% in the third 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 in the last quarter. Innealta Capital LLC bought a new stake in S&T Bancorp in the second quarter worth $53,000. Denali Advisors LLC purchased a new stake in S&T Bancorp during the second quarter valued at $200,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in S&T Bancorp during the third quarter valued at $204,000. Institutional investors own 65.22% of the company’s stock.

Insider Transactions at S&T Bancorp

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $43.21, for a total value of $215,272.22. Following the completion of the sale, the director now directly owns 23,143 shares in the company, valued at $1,000,009.03. This trade represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA opened at $42.46 on Wednesday. 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 firm has a market cap of $1.62 billion, a PE ratio of 12.10 and a beta of 0.83. The firm’s 50 day simple moving average is $40.90 and its 200-day simple moving average is $38.73. 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 issued its earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share for the quarter, topping 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 business had revenue of $96.35 million during the quarter, compared to analysts’ expectations of $98.90 million. As a group, equities analysts predict that S&T Bancorp, Inc. will post 3.36 EPS for the current year.

S&T Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.34 dividend. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.20%. S&T Bancorp’s payout ratio is 38.75%.

Analyst Ratings Changes

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

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.