StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBA – Free Report) from a sell rating to a hold rating in a report published on Thursday morning.
Separately, DA Davidson lifted their price target on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 19th.
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S&T Bancorp Stock Down 1.7 %
S&T Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.34 per share. 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 3.59%. S&T Bancorp’s payout ratio is currently 38.53%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of 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 during the last quarter. GAMMA Investing LLC grew its stake in S&T Bancorp by 80.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the financial services provider’s stock valued at $49,000 after buying an additional 526 shares during the last quarter. Innealta Capital LLC acquired a new position in S&T Bancorp in the 2nd quarter valued at about $53,000. EntryPoint Capital LLC grew its stake in S&T Bancorp by 188.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,854 shares of the financial services provider’s stock valued at $92,000 after buying an additional 1,863 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in S&T Bancorp in the 1st quarter valued at about $152,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.
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.
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