Jane Street Group LLC Has $1.81 Million Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Jane Street Group LLC lifted its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 35.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,214 shares of the financial services provider’s stock after buying an additional 11,252 shares during the quarter. Jane Street Group LLC owned about 0.11% of S&T Bancorp worth $1,814,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in S&T Bancorp in the 3rd quarter valued at about $204,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of S&T Bancorp in the third quarter valued at approximately $295,000. Charles Schwab Investment Management Inc. increased its stake in shares of S&T Bancorp by 3.1% during 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 purchasing an additional 43,268 shares during the period. Envestnet Asset Management Inc. lifted its holdings in 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 worth $5,381,000 after purchasing an additional 30,945 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in S&T Bancorp by 4,095.0% in the 3rd 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 during the period. Institutional investors and hedge funds own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA opened at $39.38 on Thursday. S&T Bancorp, Inc. has a 12-month low of $28.83 and a 12-month high of $45.79. The company’s 50 day moving average price is $41.24 and its two-hundred day moving average price is $39.73. The firm has a market cap of $1.51 billion, a PE ratio of 11.22 and a beta of 0.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data 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 return on equity of 10.25% and a net margin of 23.69%. The firm had revenue of $96.35 million for the quarter, compared to analyst estimates of $98.90 million. Equities research analysts predict that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were 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 of this dividend was Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 3.45%. S&T Bancorp’s dividend payout ratio (DPR) is currently 38.75%.

Insider Buying and Selling at S&T Bancorp

In related news, 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 sale, the director now directly owns 23,143 shares of the company’s stock, valued at approximately $1,000,009.03. The trade was a 17.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.38% of the company’s stock.

S&T Bancorp Company Profile

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.