S&T Bancorp, Inc. $STBA Stake Decreased by Northern Trust Corp

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 cut its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in 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 acquiring an additional 520 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of S&T Bancorp by 7.6% in 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 in the last quarter. US Bancorp DE increased its holdings in shares of 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 valued at $213,000 after purchasing an additional 5,238 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of S&T Bancorp during the first quarter valued at about $349,000. Finally, Graham Capital Management L.P. bought a new stake in shares of S&T Bancorp during the fourth quarter valued at about $472,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

S&T Bancorp Stock Down 0.6%

NASDAQ STBA opened at $39.26 on Wednesday. S&T Bancorp, Inc. has a 12 month low of $30.84 and a 12 month high of $45.46. The company has a market capitalization of $1.51 billion, a P/E ratio of 11.51 and a beta of 0.99. The company's 50 day simple moving average is $38.27 and its 200 day simple moving average is $37.50. 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 issued its earnings results on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates 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 expect that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, August 14th. 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.

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