Huntington National Bank Cuts Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Huntington National Bank trimmed its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 24.9% in the third quarter, Holdings Channel.com reports. The firm owned 2,272 shares of the financial services provider’s stock after selling 754 shares during the quarter. Huntington National Bank’s holdings in S&T Bancorp were worth $95,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Earnest Partners LLC grew its stake in shares of S&T Bancorp by 569.7% during the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock valued at $7,704,000 after buying an additional 204,281 shares during the period. American Century Companies Inc. grew its position in S&T Bancorp by 29.0% during the second quarter. American Century Companies Inc. now owns 591,829 shares of the financial services provider’s stock valued at $19,761,000 after acquiring an additional 133,108 shares during the period. Dimensional Fund Advisors LP increased its stake in S&T Bancorp by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,397,887 shares of the financial services provider’s stock worth $80,064,000 after acquiring an additional 32,935 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in 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 acquiring an additional 30,945 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of S&T Bancorp by 119.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,336 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 13,230 shares during the period. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Stock Down 0.5 %

Shares of NASDAQ STBA opened at $42.13 on Tuesday. The stock has a fifty day moving average price of $40.79 and a 200 day moving average price of $37.80. 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 $27.43 and a 12-month high of $45.79. The company has a market cap of $1.61 billion, a P/E ratio of 12.00 and a beta of 0.80.

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

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This is a boost 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 3.23%. The ex-dividend date is Thursday, November 7th. S&T Bancorp’s payout ratio is presently 38.75%.

Insider Activity

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $43.21, for a total value of $215,272.22. Following the transaction, the director now owns 23,143 shares in the company, valued at $1,000,009.03. The trade was a 17.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of 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.