Geode Capital Management LLC Purchases 10,603 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Geode Capital Management LLC grew its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 925,490 shares of the financial services provider’s stock after buying an additional 10,603 shares during the period. Geode Capital Management LLC owned approximately 2.42% of S&T Bancorp worth $38,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of S&T Bancorp by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider’s stock valued at $80,064,000 after acquiring an additional 32,935 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of S&T Bancorp by 3.1% during the 3rd 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 in the last quarter. American Century Companies Inc. grew 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 worth $19,761,000 after purchasing an additional 133,108 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $15,638,000 after purchasing an additional 4,126 shares during the period. Finally, Earnest Partners LLC raised 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 valued at $9,602,000 after buying an additional 47,450 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total value of $215,272.22. Following the transaction, the director now owns 23,143 shares in the company, valued at $1,000,009.03. The trade was a 17.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.38% of the company’s stock.

S&T Bancorp Trading Up 0.9 %

STBA opened at $39.38 on Wednesday. The stock has a market capitalization of $1.51 billion, a price-to-earnings 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, Inc. has a twelve month low of $28.83 and a twelve month high of $45.79. The company has a 50-day simple moving average of $41.29 and a 200 day simple moving average of $39.67.

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

S&T Bancorp Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, November 7th. This is an increase from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s dividend payout ratio (DPR) is currently 38.75%.

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.