S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,140 shares of the financial services provider’s stock after selling 296 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of S&T Bancorp worth $803,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in S&T Bancorp by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider’s stock worth $80,064,000 after purchasing an additional 32,935 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in S&T Bancorp by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,432,510 shares of the financial services provider’s stock worth $60,122,000 after acquiring an additional 43,268 shares in the last quarter. American Century Companies Inc. increased its stake in shares of S&T Bancorp by 29.0% during the 2nd quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock worth $19,761,000 after purchasing an additional 133,108 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in S&T Bancorp by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock valued at $15,638,000 after buying an additional 4,126 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of S&T Bancorp by 19.8% in the second quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock worth $9,602,000 after buying an additional 47,450 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

Analyst Ratings Changes

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

S&T Bancorp Trading Down 1.5 %

Shares of S&T Bancorp stock opened at $42.63 on Friday. S&T Bancorp, Inc. has a 52-week low of $28.83 and a 52-week high of $45.79. The firm has a market capitalization of $1.63 billion, a PE ratio of 12.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99. The company’s fifty day moving average price is $41.19 and its two-hundred day moving average price is $39.13.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, topping 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 firm had revenue of $96.35 million during the quarter, compared to analysts’ expectations of $98.90 million. On average, analysts expect that S&T Bancorp, Inc. will post 3.36 EPS for the current year.

S&T Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.19%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, November 7th. S&T Bancorp’s dividend payout ratio is 38.75%.

Insiders Place Their Bets

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 transaction of $215,272.22. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.

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.