S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 39.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,189 shares of the financial services provider's stock after selling 10,988 shares during the quarter. Teacher Retirement System of Texas' holdings in S&T Bancorp were worth $637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in S&T Bancorp by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider's stock valued at $176,453,000 after buying an additional 160,453 shares during the period. JPMorgan Chase & Co. raised its holdings in S&T Bancorp by 333.4% during the 4th quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider's stock valued at $5,740,000 after buying an additional 115,528 shares during the period. Norges Bank purchased a new stake in S&T Bancorp during the 4th quarter valued at $4,181,000. Northern Trust Corp raised its holdings in S&T Bancorp by 21.7% during the 4th quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider's stock valued at $18,476,000 after buying an additional 86,317 shares during the period. Finally, GAMMA Investing LLC raised its holdings in S&T Bancorp by 5,156.2% during the 1st quarter. GAMMA Investing LLC now owns 65,282 shares of the financial services provider's stock valued at $2,419,000 after buying an additional 64,040 shares during the period. Hedge funds and other institutional investors own 65.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on STBA shares. Piper Sandler assumed coverage on S&T Bancorp in a research note on Friday. They set a "neutral" rating and a $42.00 price target on the stock. Hovde Group initiated coverage on S&T Bancorp in a research report on Friday, June 27th. They set a "market perform" rating and a $41.00 price target for the company. Wall Street Zen cut S&T Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods cut their price objective on 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. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, S&T Bancorp has a consensus rating of "Hold" and a consensus target price of $41.75.

S&T Bancorp Stock Down 0.3%

Shares of STBA traded down $0.13 during mid-day trading on Friday, reaching $39.12. The company's stock had a trading volume of 111,521 shares, compared to its average volume of 163,956. S&T Bancorp, Inc. has a 12-month low of $30.84 and a 12-month high of $45.79. The stock has a market cap of $1.50 billion, a PE ratio of 11.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The company's 50 day moving average is $37.79 and its 200 day moving average is $37.58.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 earnings per share 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 company had revenue of $93.75 million during the quarter, compared to analysts' expectations of $96.40 million. Equities analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.48%. The ex-dividend date was Thursday, May 15th. S&T Bancorp's payout ratio is 39.19%.

S&T Bancorp 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.