Earnest Partners LLC Cuts Stock Position 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 lowered its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STBA. GAMMA Investing LLC raised its position in shares of S&T Bancorp by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock worth $65,000 after purchasing an additional 520 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in S&T Bancorp by 7.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock worth $192,000 after buying an additional 367 shares in the last quarter. US Bancorp DE grew its stake 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 valued at $213,000 after purchasing an additional 5,238 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of S&T Bancorp during the 4th quarter valued at about $230,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of S&T Bancorp during the 4th quarter valued at about $246,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Trading Down 1.7%

STBA stock traded down $0.68 during midday trading on Tuesday, reaching $38.83. The company's stock had a trading volume of 36,843 shares, compared to its average volume of 155,269. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day simple moving average of $38.23 and a two-hundred day simple moving average of $37.49. S&T Bancorp, Inc. has a 1 year low of $30.84 and a 1 year high of $45.46. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.39 and a beta of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. On average, equities research analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 14th. S&T Bancorp's dividend payout ratio (DPR) is currently 39.88%.

Wall Street Analysts Forecast Growth

STBA has been the subject of a number of recent research reports. Wall Street Zen upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Piper Sandler initiated coverage on S&T Bancorp in a research note on Friday, July 18th. They set a "neutral" rating and a $42.00 price objective for the company. Finally, Hovde Group began coverage on S&T Bancorp in a research note on Friday, June 27th. They set a "market perform" rating and a $41.00 price objective for the company. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, S&T Bancorp currently has an average rating of "Hold" and an average price target 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.