Los Angeles Capital Management LLC Invests $225,000 in S&T Bancorp, Inc. (NASDAQ:STBA)

Los Angeles Capital Management LLC acquired a new stake in S&T Bancorp, Inc. (NASDAQ:STBA) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,362 shares of the financial services provider’s stock, valued at approximately $225,000.

A number of other hedge funds have also added to or reduced their stakes in STBA. International Assets Investment Management LLC increased its position in S&T Bancorp by 4,095.0% during the 3rd 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of S&T Bancorp by 80.8% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock worth $49,000 after buying an additional 526 shares in the last quarter. Innealta Capital LLC bought a new position in shares of S&T Bancorp in the 2nd quarter valued at $53,000. EntryPoint Capital LLC boosted its holdings in shares of S&T Bancorp by 188.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 1,863 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in S&T Bancorp during the 1st quarter worth $152,000. 65.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

S&T Bancorp Stock Performance

Shares of STBA stock opened at $42.13 on Tuesday. 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 $27.43 and a one year high of $45.79. The business’s 50 day simple moving average is $40.79 and its 200 day simple moving average is $37.80. The stock has a market capitalization of $1.61 billion, a PE ratio of 12.06 and a beta of 0.80.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.85 EPS 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 company had revenue of $96.35 million for the quarter, compared to analyst estimates of $98.90 million. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 3.23%. S&T Bancorp’s dividend payout ratio (DPR) is 38.75%.

Insider Activity

In other S&T Bancorp news, Director Frank J. Palermo, Jr. sold 4,982 shares of S&T Bancorp stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $43.21, for a total value of $215,272.22. Following the completion of the sale, the director now directly owns 23,143 shares in the company, valued at approximately $1,000,009.03. The trade was a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.38% of the stock is owned by company insiders.

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.