Pinebridge Investments L.P. raised its holdings in S & T Bancorp Inc (NASDAQ:STBA) by 20.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 27,960 shares of the financial services provider’s stock after purchasing an additional 4,822 shares during the period. Pinebridge Investments L.P.’s holdings in S & T Bancorp were worth $1,114,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of STBA. Macquarie Group Ltd. raised its position in S & T Bancorp by 11.0% in the third quarter. Macquarie Group Ltd. now owns 1,164,433 shares of the financial services provider’s stock valued at $46,088,000 after purchasing an additional 115,210 shares during the period. Assenagon Asset Management S.A. purchased a new stake in S & T Bancorp in the fourth quarter valued at $3,654,000. Dimensional Fund Advisors LP raised its position in S & T Bancorp by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,708,404 shares of the financial services provider’s stock valued at $67,618,000 after purchasing an additional 45,817 shares during the period. Chicago Equity Partners LLC purchased a new stake in S & T Bancorp in the third quarter valued at $1,413,000. Finally, State Street Corp raised its position in S & T Bancorp by 2.8% in the second quarter. State Street Corp now owns 840,779 shares of the financial services provider’s stock valued at $30,152,000 after purchasing an additional 23,227 shares during the period. Institutional investors own 56.57% of the company’s stock.
Shares of S & T Bancorp Inc (NASDAQ:STBA) opened at $40.58 on Monday. S & T Bancorp Inc has a 1 year low of $31.72 and a 1 year high of $43.17. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1,419.34, a price-to-earnings ratio of 16.43 and a beta of 0.85.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a $0.22 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.17%. S & T Bancorp’s dividend payout ratio is presently 42.11%.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded S & T Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. BidaskClub upgraded S & T Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $42.00 target price on shares of S & T Bancorp in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $43.50.
In related news, Director James C. Miller sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $39.56, for a total value of $197,800.00. Following the sale, the director now owns 44,176 shares in the company, valued at approximately $1,747,602.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.71% of the stock is currently owned by insiders.
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S & T Bancorp Profile
S&T Bancorp, Inc (S&T) is a bank holding company. The Company operates through three segments: Community Banking, Wealth Management and Insurance. The Community Banking segment offers services, which include accepting time and demand deposits, and originating commercial and consumer loans. The Wealth Management segment offers brokerage services, serves as executor and trustee under wills and deeds and as guardian and custodian of employee benefits and provides other trust services.
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