Wedge Capital Management L L P NC boosted its position in S & T Bancorp Inc (NASDAQ:STBA) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 135,548 shares of the financial services provider’s stock after acquiring an additional 1,403 shares during the period. Wedge Capital Management L L P NC owned 0.39% of S & T Bancorp worth $5,080,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC raised its stake in S & T Bancorp by 47.0% in the 4th quarter. Millennium Management LLC now owns 6,931 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 2,216 shares during the period. Huntington National Bank raised its stake in S & T Bancorp by 18.3% in the 2nd quarter. Huntington National Bank now owns 1,883 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 291 shares during the period. Norges Bank bought a new stake in S & T Bancorp in the 4th quarter valued at about $22,575,000. Bank of America Corp DE raised its stake in S & T Bancorp by 34.8% in the 4th quarter. Bank of America Corp DE now owns 97,992 shares of the financial services provider’s stock valued at $3,708,000 after acquiring an additional 25,296 shares during the period. Finally, Alps Advisors Inc. bought a new stake in S & T Bancorp in the 1st quarter valued at about $402,000. Institutional investors and hedge funds own 60.03% of the company’s stock.
STBA stock traded up $0.76 during mid-day trading on Friday, reaching $35.37. 1,050 shares of the company traded hands, compared to its average volume of 105,486. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.23 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.25 and a beta of 0.65. S & T Bancorp Inc has a 52-week low of $34.56 and a 52-week high of $47.77. The company has a fifty day moving average price of $37.08 and a 200-day moving average price of $38.71.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, July 31st. S & T Bancorp’s payout ratio is presently 35.88%.
A number of equities research analysts recently issued reports on the company. ValuEngine cut S & T Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Boenning Scattergood restated a “hold” rating on shares of S & T Bancorp in a research note on Monday, April 22nd. Zacks Investment Research cut S & T Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub cut S & T Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 15th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. S & T Bancorp currently has a consensus rating of “Hold” and an average price target of $48.00.
In other S & T Bancorp news, insider David P. Ruddock sold 1,768 shares of S & T Bancorp stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $37.27, for a total transaction of $65,893.36. Following the completion of the transaction, the insider now owns 9,549 shares of the company’s stock, valued at approximately $355,891.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd D. Brice bought 2,036 shares of S & T Bancorp stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $37.31 per share, with a total value of $75,963.16. Following the acquisition, the chief executive officer now directly owns 91,520 shares in the company, valued at $3,414,611.20. The disclosure for this purchase can be found here. 2.50% of the stock is owned by insiders.
S & T Bancorp Profile
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company accepts time and demand deposits; and offers commercial and consumer loans, cash management services, and brokerage and trust services, as well as acts as guardian and custodian of employee benefits.
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