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

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of S&T Bancorp by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 520 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of S&T Bancorp by 519.3% in the 1st quarter. GSA Capital Partners LLP now owns 41,199 shares of the financial services provider's stock valued at $1,526,000 after purchasing an additional 34,546 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of S&T Bancorp by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,179 shares of the financial services provider's stock valued at $1,159,000 after purchasing an additional 3,489 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of S&T Bancorp by 100.0% in the 1st quarter. KLP Kapitalforvaltning AS now owns 16,400 shares of the financial services provider's stock valued at $608,000 after purchasing an additional 8,200 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of S&T Bancorp by 0.8% in the first quarter. New York State Teachers Retirement System now owns 63,077 shares of the financial services provider's stock valued at $2,337,000 after buying an additional 497 shares in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STBA. Hovde Group began coverage on S&T Bancorp in a research note on Friday, June 27th. They issued a "market perform" rating and a $41.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Piper Sandler began coverage on S&T Bancorp in a research note on Friday, July 18th. They issued a "neutral" rating and a $42.00 price target on the stock. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $42.00.

S&T Bancorp Price Performance

STBA traded up $0.44 during trading on Tuesday, reaching $39.49. 127,245 shares of the stock were exchanged, compared to its average volume of 134,061. The business's 50 day moving average price is $37.96 and its two-hundred day moving average price is $37.52. 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 has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.58 and a beta of 0.93. S&T Bancorp, Inc. has a 1 year low of $30.84 and a 1 year high of $45.46.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. The company had revenue of $100.07 million for the quarter, compared to the consensus estimate of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, August 14th. S&T Bancorp's payout ratio is presently 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.