S&T Bancorp, Inc. $STBA Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in S&T Bancorp by 0.8%, now owning approximately 11.97% of the company worth $169.6 million after selling 38,605 shares in the first quarter.
• S&T Bancorp reported earnings of $0.83 per share, surpassing analyst estimates, and announced a dividend of $0.34 per share to be paid on August 28th.
• Several institutional investors, including US Bancorp DE, significantly increased their stakes in S&T Bancorp, indicating growing interest as 65.22% of the stock is owned by institutional investors.

Vanguard Group Inc. lessened its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,578,175 shares of the financial services provider's stock after selling 38,605 shares during the period. Vanguard Group Inc. owned about 11.97% of S&T Bancorp worth $169,621,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in S&T Bancorp by 824.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 1,088 shares during the last quarter. GAMMA Investing LLC lifted its position in S&T Bancorp by 41.9% during the first 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 during the last quarter. Nisa Investment Advisors LLC lifted its position in S&T Bancorp by 7.6% during the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider's stock valued at $192,000 after acquiring an additional 367 shares during the last quarter. US Bancorp DE lifted its position in 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 acquiring an additional 5,238 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in S&T Bancorp during the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

Analyst Ratings Changes

STBA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price 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. Piper Sandler assumed coverage on shares of S&T Bancorp in a report on Friday, July 18th. They issued a "neutral" rating and a $42.00 price target for the company. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Finally, 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 target for the company. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $42.00.

S&T Bancorp Stock Performance

Shares of S&T Bancorp stock traded down $0.01 during trading on Monday, hitting $39.20. 31,327 shares of the company's stock were exchanged, compared to its average volume of 156,111. 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 business has a 50-day simple moving average of $37.82 and a 200-day simple moving average of $37.51. 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 capitalization of $1.50 billion, a price-to-earnings ratio of 11.50 and a beta of 0.93.

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 (EPS) for the quarter, topping 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%. On average, research analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, August 14th. S&T Bancorp's dividend payout ratio (DPR) is currently 39.88%.

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.