Vanguard Group Inc. Sells 27,448 Shares of S&T Bancorp, Inc. $STBA

Key Points

• Vanguard Group trimmed its stake in S&T Bancorp by 27,448 shares in the fourth quarter, leaving it with about 4.5 million shares valued at roughly $177.2 million.
• S&T Bancorp reported stronger-than-expected earnings for the latest quarter, posting $0.94 EPS versus the $0.87 consensus estimate, though revenue came in slightly below forecasts.
• The bank raised its quarterly dividend to $0.37 per share and also authorized a $100 million share repurchase program, signaling confidence in its valuation and capital position.

Vanguard Group Inc. reduced its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,504,300 shares of the financial services provider's stock after selling 27,448 shares during the period. Vanguard Group Inc. owned approximately 11.79% of S&T Bancorp worth $177,244,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in S&T Bancorp by 5,223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider's stock worth $34,000 after purchasing an additional 888 shares during the last quarter. Versant Capital Management Inc lifted its stake in S&T Bancorp by 41.6% in the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider's stock worth $49,000 after purchasing an additional 384 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in S&T Bancorp in the third quarter worth $50,000. KBC Group NV lifted its stake in S&T Bancorp by 57.7% in the fourth quarter. KBC Group NV now owns 2,277 shares of the financial services provider's stock worth $90,000 after purchasing an additional 833 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in S&T Bancorp in the second quarter worth $91,000. 65.22% of the stock is owned by institutional investors.

S&T Bancorp Price Performance

STBA stock opened at $44.52 on Monday. The firm's 50-day moving average price is $42.45 and its two-hundred day moving average price is $41.12. S&T Bancorp, Inc. has a 12-month low of $34.01 and a 12-month high of $45.17. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.47 and a beta of 0.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The firm had revenue of $102.08 million for the quarter, compared to analysts' expectations of $103.62 million. As a group, equities analysts predict that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp declared that its board has initiated a share repurchase plan on Thursday, January 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

S&T Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be given a $0.37 dividend. The ex-dividend date is Thursday, May 14th. This is a positive change from S&T Bancorp's previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. S&T Bancorp's dividend payout ratio is presently 40.34%.

Analyst Ratings Changes

STBA has been the subject of several recent research reports. Janney Montgomery Scott raised shares of S&T Bancorp from a "neutral" rating to a "buy" rating and set a $46.00 price target for the company in a research note on Monday, January 26th. Hovde Group boosted their price target on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a "market perform" rating in a research note on Monday, February 23rd. Zacks Research downgraded shares of S&T Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 6th. DA Davidson initiated coverage on shares of S&T Bancorp in a research note on Wednesday, February 25th. They issued a "neutral" rating and a $47.00 price target for the company. Finally, Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, March 22nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $44.40.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company's main business activities encompass a full suite of retail and commercial banking products.

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