Bank of New York Mellon Corp Sells 13,564 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Bank of New York Mellon Corp reduced its position in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 3.3% during the first quarter, according to the company in 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 period. 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).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in shares of S&T Bancorp by 824.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after buying an additional 1,088 shares during the last quarter. 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 valued at $65,000 after purchasing an additional 520 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of S&T Bancorp in the 4th quarter valued at $153,000. Dark Forest Capital Management LP acquired a new position in shares of S&T Bancorp in the 4th quarter valued at $230,000. Finally, Pictet Asset Management Holding SA acquired a new stake in S&T Bancorp during the 4th quarter worth about $233,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STBA shares. Keefe, Bruyette & Woods dropped their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Hovde Group initiated coverage on shares of S&T Bancorp in a research report on Friday, June 27th. They issued a "market perform" rating and a $41.00 price target for the company. Piper Sandler initiated coverage on shares of S&T Bancorp in a report on Friday. They issued a "neutral" rating and a $42.00 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 report on Sunday.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA traded down $0.16 during midday trading on Monday, hitting $38.96. The company's stock had a trading volume of 112,968 shares, compared to its average volume of 163,433. S&T Bancorp, Inc. has a 1-year low of $30.84 and a 1-year high of $45.79. The firm's fifty day moving average price is $37.79 and its 200-day moving average price is $37.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $1.49 billion, a P/E ratio of 11.23 and a beta of 0.89.

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, topping analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $93.75 million for the quarter, compared to the consensus estimate of $96.40 million. S&T Bancorp had a net margin of 23.84% and a return on equity of 9.71%. On average, sell-side analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. S&T Bancorp's dividend payout ratio is 39.19%.

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.