First Trust Advisors LP Sells 38,645 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

First Trust Advisors LP reduced its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,525 shares of the financial services provider’s stock after selling 38,645 shares during the period. First Trust Advisors LP’s holdings in S&T Bancorp were worth $3,766,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in S&T Bancorp by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider’s stock valued at $176,453,000 after buying an additional 160,453 shares during the period. JPMorgan Chase & Co. raised its position in shares of S&T Bancorp by 333.4% in the 4th quarter. JPMorgan Chase & Co. now owns 150,183 shares of the financial services provider’s stock worth $5,740,000 after purchasing an additional 115,528 shares during the last quarter. Norges Bank bought a new position in shares of S&T Bancorp in the fourth quarter worth approximately $4,181,000. Assenagon Asset Management S.A. bought a new stake in S&T Bancorp in the 4th quarter worth about $3,297,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of S&T Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,493,127 shares of the financial services provider’s stock worth $57,067,000 after buying an additional 60,617 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price objective on shares of S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating for the company in a research report on Monday, April 28th.

Insider Buying and Selling at S&T Bancorp

In related news, Director Bhaskar Ramachandran purchased 764 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $39.25 per share, with a total value of $29,987.00. Following the completion of the acquisition, the director now owns 1,251 shares in the company, valued at approximately $49,101.75. This represents a 156.88 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.23% of the stock is currently owned by company insiders.

S&T Bancorp Stock Performance

STBA stock opened at $37.41 on Friday. The business’s fifty day simple moving average is $36.65 and its two-hundred day simple moving average is $38.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 10.97 and a beta of 0.75. S&T Bancorp, Inc. has a twelve month low of $29.85 and a twelve month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. S&T Bancorp had a net margin of 23.24% and a return on equity of 9.77%. The company had revenue of $93.75 million for the quarter, compared to analyst estimates of $96.40 million. 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 announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, May 15th. S&T Bancorp’s dividend payout ratio is currently 39.19%.

S&T Bancorp 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.