Vanguard Group Inc. Trims Stake in S&T Bancorp, Inc. $STBA

Vanguard Group Inc. lowered its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,504,300 shares of the financial services provider’s stock after selling 27,448 shares during the quarter. Vanguard Group Inc. owned about 0.12% of S&T Bancorp worth $177,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of STBA. Millennium Management LLC increased its position in shares of 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. Jane Street Group LLC purchased a new position in shares of S&T Bancorp during the first quarter valued at about $4,211,000. Qube Research & Technologies Ltd increased its position in shares of S&T Bancorp by 58.0% during the third quarter. Qube Research & Technologies Ltd now owns 234,645 shares of the financial services provider’s stock valued at $8,820,000 after buying an additional 86,125 shares during the period. Two Sigma Investments LP increased its position in shares of S&T Bancorp by 48.4% during the third quarter. Two Sigma Investments LP now owns 135,174 shares of the financial services provider’s stock valued at $5,081,000 after buying an additional 44,058 shares during the period. Finally, Public Sector Pension Investment Board increased its position in shares of S&T Bancorp by 32.2% during the third quarter. Public Sector Pension Investment Board now owns 172,697 shares of the financial services provider’s stock valued at $6,492,000 after buying an additional 42,015 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analyst Ratings Changes

STBA has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of S&T Bancorp in a research report on Monday, April 27th. Hovde Group boosted their price objective on shares of S&T Bancorp from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Janney Montgomery Scott raised shares of S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, January 26th. Zacks Research lowered shares of S&T Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Wall Street Zen raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $44.40.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $44.52 on Monday. S&T Bancorp, Inc. has a one year low of $34.01 and a one year high of $45.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day simple moving average is $42.45 and its 200 day simple moving average is $41.12. The firm has a market capitalization of $1.63 billion, a P/E ratio of 12.47 and a beta of 0.85.

S&T Bancorp (NASDAQ:STBA) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. The business had revenue of $102.08 million for the quarter, compared to analyst estimates of $103.62 million. As a group, analysts forecast that S&T Bancorp, Inc. will post 3.75 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th will be paid a $0.37 dividend. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, May 14th. S&T Bancorp’s payout ratio is currently 40.34%.

S&T Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

S&T Bancorp 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.