S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,711 shares of the financial services provider's stock after selling 13,564 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of S&T Bancorp worth $14,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of S&T Bancorp by 824.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock worth $47,000 after buying an additional 1,088 shares during the last quarter. GAMMA Investing LLC raised its stake 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 in the last quarter. CoreFirst Bank & Trust bought a new position in shares of S&T Bancorp during the 4th quarter worth approximately $153,000. Dark Forest Capital Management LP bought a new position in shares of S&T Bancorp during the 4th quarter worth approximately $230,000. Finally, Pictet Asset Management Holding SA acquired a new position in S&T Bancorp during the 4th quarter valued at approximately $233,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

S&T Bancorp Stock Down 0.3%

Shares of S&T Bancorp stock traded down $0.10 during trading hours on Wednesday, hitting $38.62. The company had a trading volume of 110,987 shares, compared to its average volume of 162,088. The company's 50-day moving average is $37.80 and its two-hundred day moving average is $37.61. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.79. The company has a market cap of $1.48 billion, a P/E ratio of 11.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. S&T Bancorp had a net margin of 23.84% and a return on equity of 9.71%. The firm had revenue of $93.75 million during the quarter, compared to the consensus estimate of $96.40 million. Analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.52%. S&T Bancorp's payout ratio is currently 39.19%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Piper Sandler started coverage on shares of S&T Bancorp in a research note on Friday, July 18th. They set a "neutral" rating and a $42.00 target price on the stock. Wall Street Zen upgraded shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Hovde Group initiated 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 price objective for the company.

S&T Bancorp 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.