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

Several other hedge funds have also added to or reduced their stakes in STBA. Citadel Advisors LLC lifted its holdings in S&T Bancorp by 25.5% during the 4th quarter. Citadel Advisors LLC now owns 23,700 shares of the financial services provider's stock valued at $906,000 after purchasing an additional 4,809 shares during the last quarter. Deutsche Bank AG increased its position in S&T Bancorp by 52.7% during the 4th quarter. Deutsche Bank AG now owns 34,118 shares of the financial services provider's stock worth $1,304,000 after buying an additional 11,776 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in S&T Bancorp by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,670 shares of the financial services provider's stock worth $828,000 after buying an additional 792 shares during the period. Millennium Management LLC increased its position in S&T Bancorp by 53.6% during the 4th quarter. Millennium Management LLC now owns 32,895 shares of the financial services provider's stock worth $1,257,000 after buying an additional 11,478 shares during the period. Finally, Nuveen Asset Management LLC increased its position in S&T Bancorp by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 145,257 shares of the financial services provider's stock worth $5,552,000 after buying an additional 2,252 shares during the period. Institutional investors and hedge funds own 65.22% of the company's stock.

Analyst Ratings Changes

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

S&T Bancorp Price Performance

Shares of S&T Bancorp stock traded down $0.72 during trading on Friday, hitting $39.28. 474,165 shares of the stock traded hands, compared to its average volume of 115,446. The firm's fifty day moving average is $38.30 and its 200-day moving average is $37.45. 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 52 week low of $30.84 and a 52 week high of $45.46. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 11.52 and a beta of 0.99.

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

S&T Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.5%. S&T Bancorp's payout ratio is presently 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.