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Assenagon Asset Management S.A. trimmed its position in S&T Bancorp, Inc. (NASDAQ:STBA – Get Rating) by 79.4% in the 1st quarter, Holdings Channel reports. The firm owned 17,848 shares of the financial services provider’s stock after selling 68,905 shares during the quarter. Assenagon Asset Management S.A.’s holdings in S&T Bancorp were worth $528,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC bought a new position in S&T Bancorp in the 4th quarter valued at $28,000. Eaton Vance Management lifted its holdings in shares of S&T Bancorp by 18.5% during the 4th quarter. Eaton Vance Management now owns 7,349 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,147 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of S&T Bancorp during the 4th quarter worth $94,000. Advisor Partners LLC bought a new stake in shares of S&T Bancorp during the 4th quarter worth $202,000. Finally, CWM LLC bought a new stake in shares of S&T Bancorp during the 4th quarter worth $231,000. 61.13% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director William J. Hieb sold 3,682 shares of S&T Bancorp stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $28.25, for a total value of $104,016.50. Following the transaction, the director now owns 39,033 shares in the company, valued at approximately $1,102,682.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.45% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on shares of S&T Bancorp in a report on Thursday, March 31st. They set a “hold” rating for the company.
S&T Bancorp Price Performance
Shares of NASDAQ:STBA opened at $27.94 on Tuesday. The stock has a market cap of $1.10 billion, a PE ratio of 10.20 and a beta of 0.66. The company’s fifty day moving average is $28.02 and its 200 day moving average is $29.70. S&T Bancorp, Inc. has a 52 week low of $26.51 and a 52 week high of $34.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.06.
S&T Bancorp (NASDAQ:STBA – Get Rating) last issued its earnings results on Thursday, April 21st. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.19. The company had revenue of $82.96 million for the quarter, compared to analysts’ expectations of $82.75 million. S&T Bancorp had a net margin of 30.99% and a return on equity of 9.00%. During the same quarter last year, the company earned $0.81 EPS. Research analysts anticipate that S&T Bancorp, Inc. will post 2.8 earnings per share for the current year.
About S&T Bancorp
S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Business Banking, Commercial Construction, Consumer Real Estate, and Other Consumer.
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Want to see what other hedge funds are holding STBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&T Bancorp, Inc. (NASDAQ:STBA – Get Rating).
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