American Century Companies Inc. Sells 19,614 Shares of S&T Bancorp, Inc. $STBA

Key Points

• American Century Companies Inc. has reduced its stake in S&T Bancorp, Inc. by 2.7%, selling 19,614 shares and now owning 694,906 shares valued at approximately $25.7 million.
• S&T Bancorp recently reported an earnings per share (EPS) of $0.83, exceeding analysts' expectations of $0.80, along with a revenue of $100.07 million versus the estimated $99.30 million.
• The company declared a quarterly dividend of $0.34 per share, with a dividend yield of 3.5%, payable on August 28th to shareholders of record as of August 14th.

American Century Companies Inc. decreased its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 694,906 shares of the financial services provider's stock after selling 19,614 shares during the period. American Century Companies Inc. owned approximately 1.82% of S&T Bancorp worth $25,746,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Public Sector Pension Investment Board grew its holdings in shares of S&T Bancorp by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 121,327 shares of the financial services provider's stock worth $4,495,000 after purchasing an additional 26,041 shares in the last quarter. Nuveen LLC acquired a new stake in shares of S&T Bancorp during the 1st quarter worth $13,151,000. Charles Schwab Investment Management Inc. grew its holdings in shares of S&T Bancorp by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider's stock worth $58,339,000 after purchasing an additional 81,469 shares in the last quarter. US Bancorp DE grew its holdings in shares of S&T Bancorp by 1,015.1% during the 1st quarter. US Bancorp DE now owns 5,754 shares of the financial services provider's stock worth $213,000 after purchasing an additional 5,238 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of S&T Bancorp by 519.3% during the 1st quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider's stock worth $1,526,000 after purchasing an additional 34,546 shares in the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Trading Down 1.0%

S&T Bancorp stock traded down $0.41 during trading hours on Thursday, hitting $39.52. The stock had a trading volume of 24,125 shares, compared to its average volume of 155,639. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 11.63 and a beta of 0.93. S&T Bancorp, Inc. has a one year low of $30.84 and a one year high of $45.46. The business's 50 day simple moving average is $38.04 and its 200-day simple moving average is $37.53.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $100.07 million during the quarter, compared to the consensus estimate of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. On average, equities analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 14th. S&T Bancorp's dividend payout ratio (DPR) is 39.88%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen raised S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Piper Sandler assumed coverage on S&T Bancorp in a report on Friday, July 18th. They set a "neutral" rating and a $42.00 target price on the stock. Finally, Hovde Group assumed coverage on S&T Bancorp in a research note on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective on the stock. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $42.00.

S&T Bancorp Profile

S&T Bancorp, Inc is a bank holding company, which engages in the provision of consumer, commercial, and small business banking services. It operates through the following segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.