Northern Trust Corp Has $17.50 Million Stake in S&T Bancorp, Inc. $STBA

Key Points

• Northern Trust Corp has reduced its stake in S&T Bancorp by 2.3% during the first quarter, now holding approximately 1.23% of the company worth $17.5 million.
• Wall Street analysts maintain a consensus rating of "Hold" for S&T Bancorp, with a target price average of $42.00 following several recent analyst reports.
• S&T Bancorp recently announced a quarterly dividend of $0.34, reflecting an annualized yield of 3.5% and a payout ratio of 39.88%.

Northern Trust Corp trimmed its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 2.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 472,339 shares of the financial services provider's stock after selling 11,074 shares during the period. Northern Trust Corp owned approximately 1.23% of S&T Bancorp worth $17,500,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $65,000 after acquiring an additional 520 shares during the period. Nisa Investment Advisors LLC lifted its holdings in S&T Bancorp by 7.6% during the 1st 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 during the last quarter. US Bancorp DE lifted its holdings in S&T Bancorp by 1,015.1% during the 1st quarter. US Bancorp DE now owns 5,754 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 5,238 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in S&T Bancorp during the 1st quarter valued at about $349,000. Finally, Graham Capital Management L.P. bought a new position in S&T Bancorp during the 4th quarter valued at about $472,000. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Price Performance

STBA traded down $0.37 during midday trading on Friday, hitting $39.58. The company had a trading volume of 109,217 shares, compared to its average volume of 124,094. 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 company has a market capitalization of $1.52 billion, a PE ratio of 11.61 and a beta of 0.99. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.46. The firm's 50-day simple moving average is $38.38 and its 200-day simple moving average is $37.46.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $100.07 million during the quarter, compared to analysts' expectations of $99.30 million. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. Equities research analysts predict 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 given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, August 14th. S&T Bancorp's dividend payout ratio (DPR) is presently 39.88%.

Analyst Upgrades and Downgrades

STBA has been the subject of several analyst reports. Hovde Group initiated coverage on shares of S&T Bancorp in a report on Friday, June 27th. They set 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, July 18th. They set a "neutral" rating and a $42.00 price target 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, July 20th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, S&T Bancorp currently has a consensus rating of "Hold" and an average price target of $42.00.

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.