Jane Street Group LLC Has $1.81 Million Position in S&T Bancorp, Inc. (NASDAQ:STBA)

Jane Street Group LLC grew its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 35.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,214 shares of the financial services provider’s stock after purchasing an additional 11,252 shares during the quarter. Jane Street Group LLC’s holdings in S&T Bancorp were worth $1,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in S&T Bancorp in the 3rd quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new position in S&T Bancorp in the 3rd quarter valued at approximately $295,000. Charles Schwab Investment Management Inc. raised its stake 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 during the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 worth $5,381,000 after purchasing an additional 30,945 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of S&T Bancorp by 4,095.0% in the third quarter. International Assets Investment Management LLC now owns 839 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 819 shares during the last quarter. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Price Performance

S&T Bancorp stock opened at $39.38 on Thursday. The firm has a market cap of $1.51 billion, a P/E ratio of 11.22 and a beta of 0.83. The stock’s 50 day moving average is $41.24 and its 200 day moving average is $39.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp, Inc. has a one year low of $28.83 and a one year high of $45.79.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. S&T Bancorp had a net margin of 23.69% and a return on equity of 10.25%. The firm had revenue of $96.35 million for the quarter, compared to the consensus estimate of $98.90 million. As a group, research analysts expect that S&T Bancorp, Inc. will post 3.36 EPS for the current year.

S&T Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.45%. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.33. S&T Bancorp’s dividend payout ratio is 38.75%.

Insiders Place Their Bets

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total transaction of $215,272.22. Following the transaction, the director now directly owns 23,143 shares in the company, valued at approximately $1,000,009.03. This represents a 17.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

About S&T Bancorp

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.