Teacher Retirement System of Texas Reduces Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Teacher Retirement System of Texas lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,189 shares of the financial services provider's stock after selling 10,988 shares during the period. Teacher Retirement System of Texas' holdings in S&T Bancorp were worth $637,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its stake in S&T Bancorp by 86.3% in the fourth quarter. Victory Capital Management Inc. now owns 19,985 shares of the financial services provider's stock valued at $764,000 after acquiring an additional 9,260 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of S&T Bancorp in the 4th quarter worth about $1,310,000. Amundi increased its position in shares of S&T Bancorp by 190.0% during the 4th quarter. Amundi now owns 19,530 shares of the financial services provider's stock valued at $718,000 after purchasing an additional 12,795 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of S&T Bancorp by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 31,444 shares of the financial services provider's stock valued at $1,202,000 after buying an additional 774 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in S&T Bancorp in the fourth quarter worth approximately $474,000. 65.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STBA shares. Hovde Group assumed coverage on S&T Bancorp in a research note on Friday, June 27th. They set a "market perform" rating and a $41.00 price objective on the stock. Wall Street Zen downgraded shares of S&T Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.

S&T Bancorp Stock Performance

S&T Bancorp stock traded up $0.56 during midday trading on Thursday, reaching $39.34. 49,023 shares of the company traded hands, compared to its average volume of 164,830. The business has a 50 day moving average of $37.73 and a two-hundred day moving average of $37.57. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.30 and a beta of 0.89. S&T Bancorp, Inc. has a 12 month low of $30.84 and a 12 month high of $45.79. 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 quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.71% and a net margin of 23.84%. The business had revenue of $93.75 million during the quarter, compared to analyst estimates of $96.40 million. As a group, research analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, May 15th. S&T Bancorp's dividend payout ratio (DPR) is currently 39.19%.

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.