Geode Capital Management LLC Has $38.85 Million Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Geode Capital Management LLC increased its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 925,490 shares of the financial services provider’s stock after acquiring an additional 10,603 shares during the period. Geode Capital Management LLC’s holdings in S&T Bancorp were worth $38,850,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of S&T Bancorp during the third quarter valued at about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in S&T Bancorp during the 3rd quarter worth approximately $295,000. Barclays PLC boosted its position in S&T Bancorp by 124.4% during the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock worth $3,116,000 after buying an additional 41,148 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 43,268 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of S&T Bancorp by 23.8% during the second quarter. Envestnet Asset Management Inc. now owns 161,151 shares of the financial services provider’s stock valued at $5,381,000 after acquiring an additional 30,945 shares during the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

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 Trading Up 0.9 %

Shares of STBA stock opened at $39.38 on Wednesday. S&T Bancorp, Inc. has a 1-year low of $28.83 and a 1-year high of $45.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 11.22 and a beta of 0.83. The stock has a 50-day moving average of $41.29 and a 200-day moving average of $39.67.

S&T Bancorp (NASDAQ:STBA) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $96.35 million for the quarter, compared to analysts’ expectations of $98.90 million. S&T Bancorp had a return on equity of 10.25% and a net margin of 23.69%. On average, equities research analysts forecast that S&T Bancorp, Inc. will post 3.36 earnings per share for the current year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.34 dividend. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 3.45%. S&T Bancorp’s payout ratio is presently 38.75%.

Insider Buying and Selling at S&T Bancorp

In other news, Director Frank J. Palermo, Jr. sold 4,982 shares of the business’s 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.38% of the company’s stock.

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.