Earnest Partners LLC Decreases Stock Holdings in S&T Bancorp, Inc. $STBA

Key Points

• Earnest Partners LLC reduced its stake in S&T Bancorp by 6.7%, selling 18,421 shares and now holding 256,849 shares valued at approximately $9.5 million.
• S&T Bancorp recently reported earnings of $0.83 EPS, exceeding analyst expectations and showing a net margin of 23.39%.
• The company declared a quarterly dividend of $0.34 per share, with a dividend yield of 3.4%, to be paid on August 28th.

Earnest Partners LLC decreased its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,849 shares of the financial services provider's stock after selling 18,421 shares during the quarter. Earnest Partners LLC owned about 0.67% of S&T Bancorp worth $9,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of S&T Bancorp by 41.9% during 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 period. GSA Capital Partners LLP increased its position in shares of S&T Bancorp by 519.3% during the first quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider's stock valued at $1,526,000 after buying an additional 34,546 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of S&T Bancorp by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,179 shares of the financial services provider's stock valued at $1,159,000 after buying an additional 3,489 shares during the period. KLP Kapitalforvaltning AS increased its position in shares of S&T Bancorp by 100.0% during the first quarter. KLP Kapitalforvaltning AS now owns 16,400 shares of the financial services provider's stock valued at $608,000 after buying an additional 8,200 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of S&T Bancorp by 0.8% during the first quarter. New York State Teachers Retirement System now owns 63,077 shares of the financial services provider's stock valued at $2,337,000 after buying an additional 497 shares during the period. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Stock Down 0.5%

NASDAQ STBA traded down $0.19 during trading hours on Monday, reaching $39.51. 99,788 shares of the company's stock traded hands, compared to its average volume of 129,141. S&T Bancorp, Inc. has a 52-week low of $30.84 and a 52-week high of $45.46. The firm has a 50-day simple moving average of $38.19 and a 200 day simple moving average of $37.49. The firm has a market cap of $1.52 billion, a PE ratio of 11.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings data 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. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The company had revenue of $100.07 million for the quarter, compared to the consensus estimate of $99.30 million. Sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.4%. S&T Bancorp's payout ratio is 39.88%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of S&T Bancorp in a research report on Friday, July 18th. They set a "neutral" rating and a $42.00 price target on the stock. Hovde Group began coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They set a "market perform" rating and a $41.00 price target for the company. Finally, 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. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $42.00.

S&T Bancorp Company 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.