Public Sector Pension Investment Board Trims Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Public Sector Pension Investment Board lessened its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 81,173 shares of the financial services provider’s stock after selling 3,000 shares during the period. Public Sector Pension Investment Board’s holdings in S&T Bancorp were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in STBA. International Assets Investment Management LLC lifted its stake in shares of 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 purchasing an additional 819 shares during the period. GAMMA Investing LLC boosted its stake in shares of S&T Bancorp by 80.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 526 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of S&T Bancorp during the 2nd quarter valued at about $53,000. Denali Advisors LLC acquired a new position in S&T Bancorp in the 2nd quarter worth about $200,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of S&T Bancorp in the third quarter worth about $204,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

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.

S&T Bancorp Stock Performance

Shares of STBA opened at $42.46 on Wednesday. S&T Bancorp, Inc. has a 12-month low of $28.83 and a 12-month high of $45.79. The stock has a market cap of $1.62 billion, a P/E ratio of 12.10 and a beta of 0.83. The company has a 50-day moving average of $40.90 and a two-hundred day moving average of $38.73. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $96.35 million during the quarter, compared to analyst estimates 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, research analysts predict that S&T Bancorp, Inc. will post 3.36 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

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

Insiders Place Their Bets

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp 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 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 Securities & Exchange Commission, which is available at the SEC website. 1.38% of the stock is owned by insiders.

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.