Amalgamated Bank Sells 331 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Amalgamated Bank reduced its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,346 shares of the financial services provider’s stock after selling 331 shares during the quarter. Amalgamated Bank’s holdings in S&T Bancorp were worth $476,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in STBA. Earnest Partners LLC grew its stake in shares of S&T Bancorp by 569.7% during the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after purchasing an additional 204,281 shares during the period. American Century Companies Inc. lifted its position 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 valued at $19,761,000 after buying an additional 133,108 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $80,064,000 after buying an additional 32,935 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 valued at $5,381,000 after buying an additional 30,945 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of S&T Bancorp by 119.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider’s stock valued at $765,000 after buying an additional 13,230 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Stock Down 0.2 %

STBA stock opened at $42.34 on Friday. S&T Bancorp, Inc. has a twelve month low of $27.43 and a twelve month high of $45.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.62 billion, a P/E ratio of 12.06 and a beta of 0.80. The business’s 50-day moving average price is $40.79 and its 200-day moving average price is $37.70.

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 return on equity of 10.25% and a net margin of 23.69%. The company had revenue of $96.35 million for the quarter, compared to analysts’ expectations of $98.90 million. On average, equities research analysts forecast that S&T Bancorp, Inc. will post 3.36 EPS for the current year.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. 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 S&T Bancorp 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 sale, the director now owns 23,143 shares of the company’s stock, valued at $1,000,009.03. The trade was a 17.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.