Hsbc Holdings PLC Sells 10,102 Shares of S&T Bancorp, Inc. $STBA

Key Points

• Hsbc Holdings PLC has reduced its stake in S&T Bancorp, Inc. by 50.3%, now owning 9,969 shares after selling 10,102 shares during the first quarter.
• S&T Bancorp recently reported $0.83 earnings per share for the quarter, exceeding analysts' expectations of $0.80, with revenues totaling $100.07 million.
• The company declared a quarterly dividend of $0.34, representing an annualized dividend of $1.36 and a dividend yield of 3.5%.

Hsbc Holdings PLC lowered its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 50.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,969 shares of the financial services provider's stock after selling 10,102 shares during the period. Hsbc Holdings PLC's holdings in S&T Bancorp were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Versor Investments LP acquired a new stake in S&T Bancorp during the first quarter valued at approximately $500,000. Public Sector Pension Investment Board raised its position 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 during the period. Nuveen LLC acquired a new stake in shares of S&T Bancorp during the 1st quarter worth approximately $13,151,000. Charles Schwab Investment Management Inc. raised its position 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 during the period. Finally, US Bancorp DE raised its position 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 during the period. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Price Performance

NASDAQ STBA traded down $0.37 during trading on Friday, reaching $39.58. 109,217 shares of the company traded hands, compared to its average volume of 122,264. 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's 50 day moving average price is $38.38 and its two-hundred day moving average price is $37.50. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 11.61 and a beta of 0.99. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $45.46.

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, beating analysts' consensus estimates of $0.80 by $0.03. The company had revenue of $100.07 million for 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%. As a group, analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

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