Stifel Financial Corp Buys 303 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Stifel Financial Corp grew its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,646 shares of the financial services provider’s stock after acquiring an additional 303 shares during the quarter. Stifel Financial Corp’s holdings in S&T Bancorp were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Readystate Asset Management LP bought a new stake in S&T Bancorp in the 3rd quarter worth about $610,000. Centiva Capital LP bought a new position in shares of S&T Bancorp in the third quarter valued at approximately $451,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of S&T Bancorp by 5.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,164 shares of the financial services provider’s stock valued at $3,155,000 after acquiring an additional 4,133 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of S&T Bancorp by 66.0% during the third quarter. BNP Paribas Financial Markets now owns 12,396 shares of the financial services provider’s stock valued at $520,000 after acquiring an additional 4,929 shares during the last quarter. Finally, FMR LLC lifted its holdings in S&T Bancorp by 180.3% during the third quarter. FMR LLC now owns 18,256 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 11,744 shares during the period. Institutional investors 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 note on Thursday, October 24th.

Insider Buying and Selling

In related news, Director Frank J. Palermo, Jr. sold 4,982 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 of the company’s stock, valued at approximately $1,000,009.03. This trade represents a 17.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is currently owned by insiders.

S&T Bancorp Stock Performance

Shares of STBA stock opened at $39.08 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 11.13 and a beta of 0.83. S&T Bancorp, Inc. has a 52 week low of $28.83 and a 52 week high of $45.79. The firm’s 50-day simple moving average is $41.18 and its two-hundred day simple moving average is $39.73.

S&T Bancorp (NASDAQ:STBA) last posted 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 company had revenue of $96.35 million for the quarter, compared to analysts’ expectations 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 year.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.34 per share. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 3.48%. S&T Bancorp’s dividend payout ratio is presently 38.75%.

S&T Bancorp 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.