Thrivent Financial for Lutherans Cuts Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Thrivent Financial for Lutherans lowered its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,042 shares of the financial services provider’s stock after selling 1,699 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of S&T Bancorp worth $1,261,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in S&T Bancorp by 4,095.0% during the 3rd 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 raised its stake in S&T Bancorp by 80.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 526 shares during the last quarter. Innealta Capital LLC purchased a new position in S&T Bancorp in the 2nd quarter valued at $53,000. Denali Advisors LLC purchased a new position in S&T Bancorp in the 2nd quarter valued at $200,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in S&T Bancorp during the 3rd quarter worth $204,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

Insider Activity

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of the 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 transaction, the director now directly owns 23,143 shares in the company, valued at approximately $1,000,009.03. This represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

S&T Bancorp Price Performance

NASDAQ:STBA opened at $42.79 on Monday. The stock has a 50 day moving average price of $40.89 and a 200 day moving average price of $38.59. The stock has a market cap of $1.64 billion, a PE ratio of 12.19 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99. S&T Bancorp, Inc. has a one year low of $27.43 and a one year high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. The business had revenue of $96.35 million during the quarter, compared to the consensus estimate of $98.90 million. Equities research analysts expect that S&T Bancorp, Inc. will post 3.36 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.18%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, November 7th. S&T Bancorp’s payout ratio is presently 38.75%.

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.