Northern Trust Corp Purchases 86,317 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Northern Trust Corp increased its holdings in S&T Bancorp, Inc. (NASDAQ:STBA - Free Report) by 21.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 483,413 shares of the financial services provider's stock after buying an additional 86,317 shares during the period. Northern Trust Corp owned 1.26% of S&T Bancorp worth $18,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STBA. Sterling Capital Management LLC increased its position in shares of S&T Bancorp by 824.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,088 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of S&T Bancorp by 67.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 502 shares during the last quarter. KBC Group NV increased its position in shares of S&T Bancorp by 55.0% during the 4th quarter. KBC Group NV now owns 2,324 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 825 shares during the last quarter. CoreFirst Bank & Trust bought a new position in shares of S&T Bancorp during the 4th quarter valued at about $153,000. Finally, SG Americas Securities LLC purchased a new position in shares of S&T Bancorp in the fourth quarter worth about $166,000. Hedge funds and other institutional investors own 65.22% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective 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 Trading Down 0.3%

NASDAQ:STBA traded down $0.12 during mid-day trading on Monday, reaching $38.28. 131,394 shares of the company's stock traded hands, compared to its average volume of 166,117. S&T Bancorp, Inc. has a 12-month low of $29.85 and a 12-month high of $45.79. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 11.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50 day moving average price of $36.46 and a 200-day moving average price of $38.74.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (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 for the quarter, compared to the consensus estimate of $96.40 million. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.55%. S&T Bancorp's dividend payout ratio is presently 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.