Sageworth Trust Co Has $779,000 Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Sageworth Trust Co cut its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 38.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,569 shares of the financial services provider’s stock after selling 11,382 shares during the quarter. Sageworth Trust Co’s holdings in S&T Bancorp were worth $779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its position in shares of S&T Bancorp by 119.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 13,230 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of S&T Bancorp by 23.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 161,151 shares of the financial services provider’s stock valued at $5,381,000 after acquiring an additional 30,945 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of S&T Bancorp by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after acquiring an additional 432 shares during the period. Earnest Partners LLC lifted its position in shares of S&T Bancorp by 569.7% during the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after acquiring an additional 204,281 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in S&T Bancorp by 33.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,683 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 7,712 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

STBA traded down $0.66 during trading on Friday, hitting $37.85. 145,126 shares of the company traded hands, compared to its average volume of 162,616. The firm has a market cap of $1.45 billion, a P/E ratio of 10.78 and a beta of 0.79. The stock’s fifty day moving average is $41.20 and its 200 day moving average is $36.62. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. S&T Bancorp, Inc. has a one year low of $25.11 and a one year high of $45.79.

S&T Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.59%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, November 7th. S&T Bancorp’s dividend payout ratio is 37.61%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STBA. StockNews.com upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. DA Davidson upped their target price on shares of S&T Bancorp from $32.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th.

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.