Dynamic Technology Lab Private Ltd Purchases New Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Dynamic Technology Lab Private Ltd acquired a new position in S&T Bancorp, Inc. (NASDAQ:STBA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,025 shares of the financial services provider’s stock, valued at approximately $295,000.

A number of other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of S&T Bancorp by 4,095.0% in the third quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock worth $35,000 after buying an additional 819 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 during the period. Innealta Capital LLC purchased a new stake in S&T Bancorp in the 2nd quarter worth approximately $53,000. Denali Advisors LLC purchased a new stake in S&T Bancorp in the 2nd quarter worth approximately $200,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in S&T Bancorp in the 3rd quarter valued at $204,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Stock Performance

Shares of STBA opened at $42.79 on Monday. S&T Bancorp, Inc. has a 12-month low of $27.43 and a 12-month 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 company has a market cap of $1.64 billion, a PE ratio of 12.19 and a beta of 0.80. The stock has a 50-day moving average price of $40.89 and a 200-day moving average price of $38.59.

S&T Bancorp (NASDAQ:STBA) last announced its 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. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. The business had revenue of $96.35 million for the quarter, compared to the consensus estimate of $98.90 million. As a group, equities analysts forecast that S&T Bancorp, Inc. will post 3.36 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.34 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Thursday, November 7th. S&T Bancorp’s payout ratio is currently 38.75%.

Insider Buying and Selling

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 of the company’s stock, valued at $1,000,009.03. This represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.