Tidal Investments LLC Makes New $220,000 Investment in S&T Bancorp, Inc. (NASDAQ:STBA)

Tidal Investments LLC acquired a new stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) during the 3rd quarter, Holdings Channel reports. The fund acquired 5,237 shares of the financial services provider’s stock, valued at approximately $220,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of S&T Bancorp by 1.2% in the third quarter. Geode Capital Management LLC now owns 925,490 shares of the financial services provider’s stock valued at $38,850,000 after acquiring an additional 10,603 shares in the last quarter. Barclays PLC lifted its holdings in S&T Bancorp by 124.4% in the 3rd quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock worth $3,116,000 after purchasing an additional 41,148 shares in the last quarter. Zacks Investment Management bought a new position in S&T Bancorp in the 3rd quarter worth approximately $255,000. Jane Street Group LLC grew its holdings in S&T Bancorp by 35.2% during the 3rd quarter. Jane Street Group LLC now owns 43,214 shares of the financial services provider’s stock valued at $1,814,000 after buying an additional 11,252 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of S&T Bancorp by 2.3% during the third quarter. Stifel Financial Corp now owns 13,646 shares of the financial services provider’s stock valued at $573,000 after buying an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

S&T Bancorp Price Performance

NASDAQ:STBA opened at $39.38 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. S&T Bancorp, Inc. has a 12 month low of $28.83 and a 12 month high of $45.79. The business’s 50-day moving average is $41.24 and its 200 day moving average is $39.73. The company has a market capitalization of $1.51 billion, a P/E ratio of 11.22 and a beta of 0.83.

S&T Bancorp (NASDAQ:STBA) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.85 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $98.90 million. On average, equities research analysts forecast that S&T Bancorp, Inc. will post 3.36 earnings per share for the current fiscal year.

S&T Bancorp Increases Dividend

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

Insider Activity

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the company’s 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 sale, the director now directly owns 23,143 shares in the company, valued at $1,000,009.03. This represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.38% of the company’s stock.

S&T Bancorp Company 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.