Rafferty Asset Management LLC Lowers Stock Holdings in S&T Bancorp, Inc. $STBA

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

Several other large investors have also recently bought and sold shares of STBA. GAMMA Investing LLC boosted its position in 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 valued at $65,000 after purchasing an additional 520 shares during the period. Nisa Investment Advisors LLC grew its stake in 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 valued at $192,000 after purchasing an additional 367 shares in the last quarter. US Bancorp DE lifted its position 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 buying an additional 5,238 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of S&T Bancorp in the fourth quarter worth about $246,000. Finally, EntryPoint Capital LLC acquired a new position in shares of S&T Bancorp during the 1st quarter worth about $293,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

Wall Street Analyst Weigh In

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

S&T Bancorp Price Performance

S&T Bancorp stock remained flat at $39.26 during trading hours on Wednesday. 123,532 shares of the company's stock traded hands, compared to its average volume of 122,996. The company has a quick ratio of 1.00, a current 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 company's fifty day moving average is $38.31 and its two-hundred day moving average is $37.51. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.51 and a beta of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $100.07 million during the quarter, compared to the consensus estimate of $99.30 million. Analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently announced 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%.

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.