S&T Bancorp, Inc. $STBA Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in S&T Bancorp by 41.8%, selling 115,735 shares and owning approximately 0.42% of the company, valued at $5.96 million.
• S&T Bancorp reported earnings per share (EPS) of $0.83 for the last quarter, exceeding analysts' expectations of $0.80, with a revenue of $100.07 million.
• The company declared a quarterly dividend of $0.34 per share, representing an annualized yield of 3.5% and a payout ratio of 39.88%.

Goldman Sachs Group Inc. reduced its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 41.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,920 shares of the financial services provider's stock after selling 115,735 shares during the quarter. Goldman Sachs Group Inc. owned about 0.42% of S&T Bancorp worth $5,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in S&T Bancorp by 41.9% during 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 raised its holdings in S&T Bancorp by 7.6% during 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 raised its holdings in S&T Bancorp by 1,015.1% during 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. EntryPoint Capital LLC acquired a new position in S&T Bancorp during the first quarter worth $293,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in S&T Bancorp during the first quarter worth $349,000. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Price Performance

Shares of NASDAQ:STBA opened at $38.56 on Tuesday. The business has a fifty day simple moving average of $38.35 and a 200-day simple moving average of $37.44. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $45.46. 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 company has a market cap of $1.48 billion, a P/E ratio of 11.31 and a beta of 0.99.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%.The firm had revenue of $100.07 million during the quarter, compared to the consensus estimate of $99.30 million. Equities research analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The company also recently declared 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. This represents a $1.36 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 14th. S&T Bancorp's payout ratio is 39.88%.

Analyst Ratings Changes

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

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