American Century Companies Inc. Cuts Position in 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 the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 694,906 shares of the financial services provider's stock after selling 19,614 shares during the quarter. American Century Companies Inc. owned approximately 1.82% of S&T Bancorp worth $25,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of S&T Bancorp by 824.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 1,088 shares during the last quarter. GAMMA Investing LLC lifted its position in S&T Bancorp by 41.9% in the first quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock valued at $65,000 after buying an additional 520 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in S&T Bancorp by 7.6% in the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock valued at $192,000 after buying an additional 367 shares during the last quarter. US Bancorp DE lifted its position in S&T Bancorp by 1,015.1% in the first quarter. US Bancorp DE now owns 5,754 shares of the financial services provider's stock valued at $213,000 after buying an additional 5,238 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in S&T Bancorp in the fourth quarter valued at about $230,000. Institutional investors and hedge funds own 65.22% of the company's stock.

S&T Bancorp Stock Up 0.8%

Shares of STBA traded up $0.30 during mid-day trading on Wednesday, hitting $39.79. 54,903 shares of the company's stock were exchanged, compared to its average volume of 155,725. The stock's 50-day moving average is $37.96 and its 200-day moving average is $37.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. S&T Bancorp, Inc. has a fifty-two week low of $30.84 and a fifty-two week high of $45.46. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 11.68 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The firm had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. On average, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid 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 is presently 39.88%.

Analyst Ratings Changes

A number of research analysts have commented on STBA shares. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Hovde Group started coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They issued a "market perform" rating and a $41.00 target price on the stock. Finally, Piper Sandler started coverage on shares of S&T Bancorp in a research report on Friday, July 18th. They issued a "neutral" rating and a $42.00 target price on the stock. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $42.00.

About S&T Bancorp

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.