First Commonwealth Financial Corp PA Sells 19,087 Shares of S&T Bancorp, Inc. $STBA

First Commonwealth Financial Corp PA trimmed its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 9.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 186,127 shares of the financial services provider’s stock after selling 19,087 shares during the period. S&T Bancorp comprises about 1.2% of First Commonwealth Financial Corp PA’s investment portfolio, making the stock its 15th biggest position. First Commonwealth Financial Corp PA’s holdings in S&T Bancorp were worth $6,997,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STBA. Verition Fund Management LLC purchased a new stake in shares of S&T Bancorp during the 3rd quarter valued at about $687,000. Qube Research & Technologies Ltd boosted its holdings in shares of S&T Bancorp by 58.0% in the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock worth $8,820,000 after buying an additional 86,125 shares during the last quarter. Mariner LLC boosted its holdings in shares of S&T Bancorp by 4.8% in the third quarter. Mariner LLC now owns 17,922 shares of the financial services provider’s stock worth $674,000 after buying an additional 825 shares during the last quarter. Millennium Management LLC grew its position in S&T Bancorp by 33.5% during the third quarter. Millennium Management LLC now owns 459,153 shares of the financial services provider’s stock valued at $17,260,000 after buying an additional 115,333 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in S&T Bancorp by 5.2% during the third quarter. Integrated Wealth Concepts LLC now owns 97,150 shares of the financial services provider’s stock valued at $3,652,000 after buying an additional 4,826 shares during the period. 65.22% of the stock is currently owned by institutional investors.

S&T Bancorp Trading Down 0.5%

S&T Bancorp stock opened at $39.96 on Wednesday. S&T Bancorp, Inc. has a 12-month low of $30.84 and a 12-month high of $44.91. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 11.42 and a beta of 0.92. The firm has a 50 day moving average of $42.09 and a 200 day moving average of $39.92. 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) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $105.90 million for the quarter, compared to the consensus estimate of $103.46 million. S&T Bancorp had a net margin of 23.61% and a return on equity of 9.25%. As a group, research analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, January 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

S&T Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, February 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. S&T Bancorp’s payout ratio is 41.14%.

Analyst Ratings Changes

STBA has been the topic of several recent research reports. Zacks Research downgraded shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Wall Street Zen downgraded shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Janney Montgomery Scott upgraded S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, January 26th. Hovde Group raised their target price on S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of S&T Bancorp in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.40.

S&T Bancorp Company Profile

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.