First Trust Advisors LP Trims Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

First Trust Advisors LP lessened its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 28.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,525 shares of the financial services provider's stock after selling 38,645 shares during the period. First Trust Advisors LP owned about 0.26% of S&T Bancorp worth $3,766,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of S&T Bancorp by 3.6% during the fourth 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. boosted its stake in S&T Bancorp by 333.4% in the fourth quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider's stock valued at $5,740,000 after acquiring an additional 115,528 shares in the last quarter. Norges Bank acquired a new position in S&T Bancorp during the 4th quarter valued at about $4,181,000. Assenagon Asset Management S.A. acquired a new position in shares of S&T Bancorp during the fourth quarter valued at about $3,297,000. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 worth $57,067,000 after buying an additional 60,617 shares during the period. Institutional investors own 65.22% of the company's stock.

Insider Activity at S&T Bancorp

In other news, Director Bhaskar Ramachandran acquired 764 shares of the business's stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $39.25 per share, for a total transaction of $29,987.00. Following the purchase, the director now owns 1,251 shares in the company, valued at approximately $49,101.75. This represents a 156.88 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.23% of the stock is owned by corporate insiders.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA traded down $0.09 during midday trading on Tuesday, reaching $37.22. 141,903 shares of the stock were exchanged, compared to its average volume of 165,040. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 10.91 and a beta of 0.86. The firm has a 50-day simple moving average of $36.60 and a two-hundred day simple moving average of $38.76. S&T Bancorp, Inc. has a twelve month low of $29.85 and a twelve month high of $45.79.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 earnings per share 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 during the quarter, compared to analysts' expectations of $96.40 million. As a group, analysts anticipate that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal 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 given a dividend of $0.34 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.65%. S&T Bancorp's dividend payout ratio (DPR) is 39.19%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price target 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.

S&T Bancorp Company 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.