S&T Bancorp, Inc. $STBA Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in S&T Bancorp, Inc. by 25.6% in the first quarter, owning 25,371 shares worth approximately $940,000.
• S&T Bancorp recently declared a quarterly dividend of $0.34, resulting in an annualized dividend yield of 3.4% with a payout ratio of 39.88%.
• The company reported $0.83 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $0.80, alongside revenues of $100.07 million.

Rafferty Asset Management LLC cut its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,371 shares of the financial services provider's stock after selling 8,707 shares during the period. Rafferty Asset Management LLC owned about 0.07% of S&T Bancorp worth $940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in S&T Bancorp by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider's stock valued at $58,339,000 after buying an additional 81,469 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of S&T Bancorp by 21.7% in the 4th quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock valued at $18,476,000 after purchasing an additional 86,317 shares during the last quarter. Nuveen LLC purchased a new stake in shares of S&T Bancorp in the 1st quarter valued at about $13,151,000. Bridgeway Capital Management LLC lifted its holdings in shares of S&T Bancorp by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 286,455 shares of the financial services provider's stock valued at $10,948,000 after purchasing an additional 6,620 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of S&T Bancorp by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider's stock valued at $7,669,000 after purchasing an additional 5,290 shares during the last quarter. 65.22% of the stock is currently owned by institutional investors and hedge funds.

S&T Bancorp Stock Performance

STBA traded down $0.37 on Friday, hitting $39.58. 109,217 shares of the company traded hands, compared to its average volume of 122,264. The company has a 50 day moving average of $38.38 and a 200-day moving average of $37.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.52 billion, a PE ratio of 11.61 and a beta of 0.99. S&T Bancorp, Inc. has a 12-month low of $30.84 and a 12-month high of $45.46.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted 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. The firm had revenue of $100.07 million during 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%. Sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current 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 dividend of $0.34 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.36 annualized dividend and a yield of 3.4%. S&T Bancorp's payout ratio is presently 39.88%.

Wall Street Analysts Forecast Growth

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