First Trust Advisors LP cut its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,525 shares of the financial services provider's stock after selling 38,645 shares during the period. First Trust Advisors LP owned approximately 0.26% of S&T Bancorp worth $3,766,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in STBA. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 160,453 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of S&T Bancorp by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider's stock valued at $57,067,000 after purchasing an additional 60,617 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of S&T Bancorp by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 201,695 shares of the financial services provider's stock valued at $7,709,000 after purchasing an additional 7,027 shares during the period. Wells Fargo & Company MN increased its stake in S&T Bancorp by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider's stock worth $5,781,000 after purchasing an additional 410 shares in the last quarter. Finally, 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 worth $5,740,000 after buying an additional 115,528 shares during the period. 65.22% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other S&T Bancorp news, Director Bhaskar Ramachandran acquired 764 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $39.25 per share, for a total transaction of $29,987.00. Following the completion of the acquisition, the director now directly owns 1,251 shares of the company's stock, valued at approximately $49,101.75. This represents a 156.88 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods dropped their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th.
Get Our Latest Analysis on S&T Bancorp
S&T Bancorp Stock Up 0.6 %
S&T Bancorp stock traded up $0.24 during mid-day trading on Thursday, hitting $37.35. The company's stock had a trading volume of 11,112 shares, compared to its average volume of 164,863. The firm's 50 day moving average is $36.49 and its 200 day moving average is $38.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. S&T Bancorp, Inc. has a 52-week low of $29.85 and a 52-week high of $45.79. The company has a market cap of $1.43 billion, a PE ratio of 10.95 and a beta of 0.86.
S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. S&T Bancorp had a net margin of 23.24% and a return on equity of 9.77%. The company had revenue of $93.75 million for the quarter, compared to analyst estimates of $96.40 million. On average, analysts anticipate that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.
S&T Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.34 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.64%. S&T Bancorp's dividend payout ratio (DPR) is presently 39.19%.
S&T Bancorp Company Profile
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Free Report)
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.
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