Insider Selling: S&T Bancorp, Inc. (NASDAQ:STBA) Director Sells 4,982 Shares of Stock

S&T Bancorp, Inc. (NASDAQ:STBA) Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at $1,000,009.03. This represents a 17.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

S&T Bancorp Trading Down 0.2 %

STBA stock opened at $42.34 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp, Inc. has a 1-year low of $27.43 and a 1-year high of $45.79. The business has a 50 day simple moving average of $40.77 and a two-hundred day simple moving average of $37.62. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.06 and a beta of 0.80.

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 analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $96.35 million during the quarter, compared to analyst estimates of $98.90 million. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. Research analysts anticipate that S&T Bancorp, Inc. will post 3.36 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.21%. S&T Bancorp’s dividend payout ratio (DPR) is presently 38.75%.

Institutional Investors Weigh In On S&T Bancorp

Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in S&T Bancorp by 119.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider’s stock valued at $765,000 after buying an additional 13,230 shares in the last quarter. Envestnet Asset Management Inc. boosted 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 last quarter. Texas Permanent School Fund Corp grew its holdings in shares of S&T Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 33,461 shares of the financial services provider’s stock valued at $1,073,000 after purchasing an additional 432 shares in the last quarter. Earnest Partners LLC increased its position in S&T Bancorp by 569.7% in the first quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock worth $7,704,000 after purchasing an additional 204,281 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in S&T Bancorp by 4,095.0% during the third 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 in the last quarter. 65.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. DA Davidson boosted their price objective on S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 19th.

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.