Assenagon Asset Management S.A. Takes $3.30 Million Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Assenagon Asset Management S.A. bought a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 86,257 shares of the financial services provider’s stock, valued at approximately $3,297,000. Assenagon Asset Management S.A. owned 0.23% of S&T Bancorp at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in STBA. Dimensional Fund Advisors LP raised its stake 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 buying an additional 32,935 shares during the period. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $60,122,000 after acquiring an additional 43,268 shares in the last quarter. Geode Capital Management LLC raised its position in shares of S&T Bancorp by 1.2% during the third quarter. Geode Capital Management LLC now owns 925,490 shares of the financial services provider’s stock worth $38,850,000 after purchasing an additional 10,603 shares during the period. Earnest Partners LLC lifted its holdings in shares of S&T Bancorp by 19.8% in the 2nd quarter. Earnest Partners LLC now owns 287,586 shares of the financial services provider’s stock worth $9,602,000 after purchasing an additional 47,450 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in S&T Bancorp by 23.8% in 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 purchasing an additional 30,945 shares during the period. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Frank J. Palermo, Jr. sold 4,982 shares of the company’s stock in a transaction 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 sale, the director now 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 SEC, which is available through this hyperlink. Corporate insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

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

S&T Bancorp Price Performance

STBA stock opened at $37.56 on Wednesday. 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 business has a 50-day simple moving average of $40.38 and a two-hundred day simple moving average of $40.50. The company has a market capitalization of $1.44 billion, a P/E ratio of 10.70 and a beta of 0.84. S&T Bancorp, Inc. has a 52-week low of $28.83 and a 52-week high of $45.79.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.