Illinois Municipal Retirement Fund Decreases Stake in S&T Bancorp, Inc. (NASDAQ:STBA)

Illinois Municipal Retirement Fund lowered its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,326 shares of the financial services provider’s stock after selling 1,499 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of S&T Bancorp worth $713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of S&T Bancorp during the third quarter worth $135,000. Allspring Global Investments Holdings LLC increased its holdings in S&T Bancorp by 17.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,508 shares of the financial services provider’s stock valued at $149,000 after buying an additional 835 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in S&T Bancorp in the fourth quarter valued at $224,000. Handelsbanken Fonder AB acquired a new stake in shares of S&T Bancorp in the fourth quarter valued at about $241,000. Finally, Commonwealth Equity Services LLC grew its position in shares of S&T Bancorp by 6.0% in the third quarter. Commonwealth Equity Services LLC now owns 9,104 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 512 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

STBA opened at $30.61 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.17 billion, a PE ratio of 8.67 and a beta of 0.77. The firm’s 50-day moving average price is $30.88 and its 200 day moving average price is $30.61. S&T Bancorp, Inc. has a twelve month low of $24.51 and a twelve month high of $36.28.

S&T Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.32 annualized dividend and a yield of 4.31%. S&T Bancorp’s payout ratio is 37.39%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd.

S&T Bancorp Company Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.