Hsbc Holdings PLC Trims Holdings in 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 reduced its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other large investors have also modified their holdings of STBA. GAMMA Investing LLC lifted its holdings in shares of S&T Bancorp by 41.9% during the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock worth $65,000 after acquiring an additional 520 shares during the period. Nisa Investment Advisors LLC increased its position in S&T Bancorp by 7.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock worth $192,000 after purchasing an additional 367 shares in the last quarter. US Bancorp DE increased its position in 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in S&T Bancorp during the 1st quarter worth approximately $349,000. Finally, Graham Capital Management L.P. acquired a new stake in S&T Bancorp during the 4th quarter worth approximately $472,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Stock Down 0.9%

NASDAQ:STBA traded down $0.37 during trading hours on Friday, hitting $39.58. The stock had a trading volume of 109,217 shares, compared to its average volume of 124,094. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $45.46. The business has a 50 day simple moving average of $38.38 and a two-hundred day simple moving average of $37.46. The company has a market cap of $1.52 billion, a PE ratio of 11.61 and a beta of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (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 during the quarter, compared to the consensus estimate of $99.30 million. Analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.4%. S&T Bancorp's dividend payout ratio (DPR) is 39.88%.

Analyst Upgrades and Downgrades

A number of 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 target price for the company. Hovde Group assumed 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 target price 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 investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average 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.