Vanguard Group Inc. Sells 47,978 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Vanguard Group Inc. reduced its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,564,657 shares of the financial services provider’s stock after selling 47,978 shares during the quarter. Vanguard Group Inc. owned approximately 11.94% of S&T Bancorp worth $123,611,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STBA. Captrust Financial Advisors lifted its holdings in S&T Bancorp by 4.7% during the 3rd quarter. Captrust Financial Advisors now owns 8,592 shares of the financial services provider’s stock valued at $252,000 after buying an additional 382 shares in the last quarter. Pathstone Family Office LLC raised its stake in shares of S&T Bancorp by 5.4% during the third quarter. Pathstone Family Office LLC now owns 7,699 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 393 shares in the last quarter. Eaton Vance Management boosted its holdings in shares of S&T Bancorp by 5.9% in the first quarter. Eaton Vance Management now owns 7,784 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 435 shares during the period. First Trust Advisors LP grew its stake in S&T Bancorp by 2.7% in the first quarter. First Trust Advisors LP now owns 18,933 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 494 shares in the last quarter. Finally, FMR LLC increased its holdings in S&T Bancorp by 2.8% during the 1st quarter. FMR LLC now owns 18,499 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 508 shares during the period. 65.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut S&T Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.

S&T Bancorp Trading Down 1.6 %

NASDAQ STBA opened at $31.38 on Wednesday. S&T Bancorp, Inc. has a one year low of $24.51 and a one year high of $36.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.39 and a beta of 0.77. The company’s 50-day simple moving average is $31.76 and its two-hundred day simple moving average is $30.16.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. The firm had revenue of $103.17 million for the quarter, compared to the consensus estimate of $100.10 million. S&T Bancorp had a net margin of 27.03% and a return on equity of 11.70%. Equities analysts forecast that S&T Bancorp, Inc. will post 3.01 EPS for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.21%. S&T Bancorp’s dividend payout ratio is presently 35.29%.

S&T Bancorp 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.