S&T Bancorp, Inc. (NASDAQ:STBA) Stake Cut by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 15.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 68,694 shares of the financial services provider’s stock after selling 12,420 shares during the period. Integrated Wealth Concepts LLC’s holdings in S&T Bancorp were worth $2,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of S&T Bancorp by 4,095.0% during the 3rd quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 819 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 worth $49,000 after purchasing an additional 526 shares in the last quarter. Innealta Capital LLC acquired a new position in S&T Bancorp during the second quarter worth $53,000. Denali Advisors LLC bought a new stake in S&T Bancorp during the second quarter worth approximately $200,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in S&T Bancorp during the third quarter valued at approximately $204,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

S&T Bancorp Stock Down 1.0 %

STBA opened at $42.56 on Friday. S&T Bancorp, Inc. has a 1-year low of $28.83 and a 1-year high of $45.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $40.96 and a 200-day moving average of $38.78. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.13 and a beta of 0.83.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $96.35 million during the quarter, compared to analysts’ expectations of $98.90 million. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. As a group, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.34 dividend. This is a boost 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 annualized dividend and a yield of 3.20%. S&T Bancorp’s payout ratio is presently 38.75%.

Insiders Place Their Bets

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the stock in a transaction 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 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 SEC, which is available through this link. Insiders own 1.38% of the company’s stock.

S&T Bancorp Company Profile

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.