Legato Capital Management LLC Decreases Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Legato Capital Management LLC lowered its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 14.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,838 shares of the financial services provider’s stock after selling 4,391 shares during the quarter. Legato Capital Management LLC’s holdings in S&T Bancorp were worth $988,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in S&T Bancorp during the 4th quarter valued at about $3,297,000. Charles Schwab Investment Management Inc. grew its holdings in S&T Bancorp by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,432,510 shares of the financial services provider’s stock valued at $60,122,000 after buying an additional 43,268 shares in the last quarter. Barclays PLC grew its holdings in S&T Bancorp by 124.4% during the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 41,148 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in S&T Bancorp during the 4th quarter valued at about $942,000. Finally, Confluence Wealth Services Inc. grew its holdings in S&T Bancorp by 137.8% during the 4th quarter. Confluence Wealth Services Inc. now owns 30,806 shares of the financial services provider’s stock valued at $1,146,000 after buying an additional 17,850 shares in the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Bhaskar Ramachandran bought 764 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $39.25 per share, for a total transaction of $29,987.00. Following the transaction, the director now directly owns 1,251 shares of the company’s stock, valued at $49,101.75. This represents a 156.88 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.38% of the company’s stock.

S&T Bancorp Stock Performance

Shares of STBA opened at $39.65 on Friday. The company has a market cap of $1.52 billion, a PE ratio of 11.63 and a beta of 0.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $39.09 and a 200-day moving average price of $40.54. S&T Bancorp, Inc. has a 12-month low of $28.83 and a 12-month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. As a group, equities analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.43%. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.88%.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.