Ameriprise Financial Inc. Sells 10,890 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Ameriprise Financial Inc. cut its stake in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,023 shares of the financial services provider's stock after selling 10,890 shares during the quarter. Ameriprise Financial Inc. owned 0.26% of S&T Bancorp worth $3,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of S&T Bancorp by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider's stock valued at $176,453,000 after acquiring an additional 160,453 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of S&T Bancorp by 333.4% in the fourth quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider's stock valued at $5,740,000 after acquiring an additional 115,528 shares in the last quarter. Norges Bank bought a new position in shares of S&T Bancorp in the fourth quarter valued at approximately $4,181,000. Northern Trust Corp grew its holdings in shares of S&T Bancorp by 21.7% in the fourth quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock valued at $18,476,000 after acquiring an additional 86,317 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of S&T Bancorp by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider's stock valued at $57,067,000 after acquiring an additional 60,617 shares in the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

S&T Bancorp Stock Performance

Shares of NASDAQ:STBA traded down $0.18 during trading on Friday, hitting $36.81. 196,306 shares of the company were exchanged, compared to its average volume of 165,946. The company has a market cap of $1.41 billion, a PE ratio of 10.79 and a beta of 0.86. The stock has a 50 day moving average of $36.32 and a 200 day moving average of $38.47. S&T Bancorp, Inc. has a 52-week low of $29.85 and a 52-week high of $45.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.77% and a net margin of 23.24%. The company had revenue of $93.75 million for the quarter, compared to the consensus estimate of $96.40 million. As a group, equities research analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.69%. S&T Bancorp's payout ratio is 39.19%.

Analyst Ratings Changes

Several research firms have recently issued reports on STBA. Wall Street Zen lowered S&T Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Keefe, Bruyette & Woods reduced their target price on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating for the company in a report on Monday, April 28th.

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.