Invesco Ltd. Has $9.56 Million Holdings in S&T Bancorp, Inc. $STBA

Key Points

• Invesco Ltd. reduced its stake in S&T Bancorp by 38.9%, selling 164,189 shares to own approximately 258,004 shares worth $9.56 million as of the latest SEC filing.
• S&T Bancorp's stock price increased by 5.1% to $39.21, with a market cap of $1.50 billion and a price-to-earnings ratio of 11.50.
• The company announced a quarterly dividend of $0.34 per share, reflecting an annualized dividend of $1.36 and a yield of 3.5%, with the payment date set for August 28th.

Invesco Ltd. lessened its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 38.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 258,004 shares of the financial services provider's stock after selling 164,189 shares during the quarter. Invesco Ltd. owned approximately 0.67% of S&T Bancorp worth $9,559,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of S&T Bancorp by 41.9% in the first 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 grew its stake in shares of S&T Bancorp by 7.6% in the first 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 during the last quarter. US Bancorp DE grew its stake in shares of S&T Bancorp by 1,015.1% in the first 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 last quarter. Dark Forest Capital Management LP bought a new stake in shares of S&T Bancorp in the fourth quarter worth $230,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of S&T Bancorp in the fourth quarter worth $246,000. Institutional investors and hedge funds own 65.22% of the company's stock.

S&T Bancorp Stock Down 0.6%

Shares of NASDAQ STBA traded down $0.23 during trading on Thursday, hitting $39.70. 141,183 shares of the company traded hands, compared to its average volume of 156,371. The business's fifty day moving average is $38.04 and its 200 day moving average is $37.53. S&T Bancorp, Inc. has a fifty-two week low of $30.84 and a fifty-two week high of $45.46. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current 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 earnings per share 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 firm had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. Equities research analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on STBA shares. Piper Sandler started coverage on shares of S&T Bancorp in a research note on Friday, July 18th. They issued a "neutral" rating and a $42.00 price objective on the stock. Hovde Group started coverage on shares of S&T Bancorp in a research note on Friday, June 27th. They issued a "market perform" rating and a $41.00 price objective on the stock. Finally, Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, S&T Bancorp has a consensus rating of "Hold" and an average target price of $42.00.

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.