Hsbc Holdings PLC Grows Stock Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Hsbc Holdings PLC grew its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 97.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,071 shares of the financial services provider's stock after acquiring an additional 9,917 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of S&T Bancorp worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in S&T Bancorp by 48.6% during the fourth quarter. Versant Capital Management Inc now owns 926 shares of the financial services provider's stock worth $35,000 after buying an additional 303 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of 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 worth $47,000 after acquiring an additional 1,088 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of S&T Bancorp by 67.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider's stock worth $48,000 after acquiring an additional 502 shares during the last quarter. KBC Group NV lifted its position in S&T Bancorp by 55.0% in the 4th quarter. KBC Group NV now owns 2,324 shares of the financial services provider's stock valued at $89,000 after acquiring an additional 825 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in S&T Bancorp during the 4th quarter valued at about $153,000. 65.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Bhaskar Ramachandran purchased 764 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $39.25 per share, with a total value of $29,987.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods dropped their target price on S&T Bancorp from $44.00 to $43.00 and set a "market perform" rating on the stock in a report on Monday, April 28th.

S&T Bancorp Stock Down 0.7 %

NASDAQ:STBA traded down $0.25 on Friday, hitting $37.63. The stock had a trading volume of 78,039 shares, compared to its average volume of 165,842. S&T Bancorp, Inc. has a 1 year low of $29.85 and a 1 year high of $45.79. The firm's fifty day simple moving average is $36.41 and its two-hundred day simple moving average is $38.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $1.44 billion, a P/E ratio of 11.04 and a beta of 0.86.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last issued 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 return on equity of 9.77% and a net margin of 23.24%. The company had revenue of $93.75 million during the quarter, compared to the consensus estimate of $96.40 million. Analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.36 annualized dividend and a yield of 3.61%. S&T Bancorp's payout ratio is currently 39.19%.

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.