Centiva Capital LP Acquires 10,737 Shares in S&T Bancorp, Inc. (NASDAQ: STBA)

On December 9th, 2024, it was reported that Centiva Capital LP has acquired a new stake in S&T Bancorp, Inc. (NASDAQ: STBA) during the third quarter. According to the latest Form 13F filing with the Securities and Exchange Commission, the firm purchased 10,737 shares of S&T Bancorp, valued at around $451,000.

Several other institutional investors have also adjusted their positions in S&T Bancorp. Notably, International Assets Investment Management LLC increased its stake by an impressive 4,095.0% during the third quarter. They now own 839 shares worth approximately $35,000 after acquiring an additional 819 shares last quarter. Similarly, GAMMA Investing LLC bolstered its holdings by 80.8%, now holding 1,177 shares valued at $49,000 after buying an additional 526 shares in the same period. Other investors like Innealta Capital LLC, Wealth Enhancement Advisory Services LLC, and Sapient Capital LLC have also made new investments in S&T Bancorp, which collectively enhance institutional ownership to 65.22% of the company's stock.

Analyst Perspectives

In the financial analysis sphere, StockNews.com upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a research report published on October 24th.

Insider Transactions

In related news, Frank J. Palermo, Jr., a director at S&T Bancorp, sold 4,982 shares of the company's stock on November 13th, at an average price of $43.21. This sale resulted in a total transaction value of $215,272.22. Following this sale, Palermo retains ownership of 23,143 shares in the company, valued at just over $1 million. It's noted that the transaction reflects a 17.71% decrease in their position. The details of this transaction were disclosed in filings with the Securities and Exchange Commission, indicating that company insiders own about 1.38% of the stock.

Stock Price Overview

On Monday, S&T Bancorp's stock opened at $42.89. The shares have seen a 12-month low of $28.83 and a high of $45.79. The company's simple moving averages are currently at $40.99 over 50 days and $38.94 over 200 days. Their current ratio stands at 0.99, along with a quick ratio of 0.99 and a debt-to-equity ratio of 0.08. S&T Bancorp has a market capitalization of roughly $1.64 billion, a P/E ratio of 12.22, and a beta value of 0.83.

S&T Bancorp recently posted its quarterly earnings results on October 17th, revealing an earnings per share (EPS) of $0.85, which surpasses the analysts' consensus estimate of $0.82 by $0.03. The quarter's revenue was $96.35 million, falling slightly short of the anticipated $98.90 million. The company reported a return on equity of 10.25% and a net margin of 23.69%. Analysts predict that S&T Bancorp will achieve an EPS of 3.36 for the current fiscal year.

Dividend Announcement

In a recent announcement, S&T Bancorp declared a quarterly dividend, which was paid out on November 21st. Shareholders of record on November 7th received a dividend of $0.34, an increase from the previous quarterly dividend of $0.33. This new dividend translates to an annualized rate of $1.36, yielding 3.17%. The company's dividend payout ratio is at 38.75%.

About S&T Bancorp

S&T Bancorp, Inc. operates as a bank holding company for S&T Bank, providing a variety of retail and commercial banking products and services. The company has six operational segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.

Shares, Investment, Acquisition