State of New Jersey Common Pension Fund D Sells 7,127 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

State of New Jersey Common Pension Fund D lessened its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA – Get Rating) by 8.0% in the first quarter, HoldingsChannel.com reports. The fund owned 81,417 shares of the financial services provider’s stock after selling 7,127 shares during the period. State of New Jersey Common Pension Fund D’s holdings in S&T Bancorp were worth $2,408,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC bought a new stake in shares of S&T Bancorp during the 4th quarter valued at about $28,000. Confluence Wealth Services Inc. bought a new stake in S&T Bancorp in the 4th quarter worth approximately $94,000. Advisor Partners LLC bought a new stake in S&T Bancorp in the 4th quarter worth approximately $202,000. CWM LLC bought a new stake in S&T Bancorp in the 4th quarter worth approximately $231,000. Finally, Eaton Vance Management lifted its position in S&T Bancorp by 18.5% in the 4th quarter. Eaton Vance Management now owns 7,349 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,147 shares during the last quarter. Institutional investors own 61.13% of the company’s stock.

S&T Bancorp Stock Performance

NASDAQ:STBA opened at $30.42 on Wednesday. The business has a 50 day moving average of $28.51 and a 200 day moving average of $29.47. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.02 and a beta of 0.70. S&T Bancorp, Inc. has a 1-year low of $26.51 and a 1-year high of $34.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.95 and a quick ratio of 0.95.

S&T Bancorp (NASDAQ:STBA – Get Rating) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $87.82 million during the quarter, compared to the consensus estimate of $84.75 million. S&T Bancorp had a return on equity of 9.06% and a net margin of 30.84%. During the same quarter in the previous year, the company posted $0.72 EPS. On average, sell-side analysts predict that S&T Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 3.94%. S&T Bancorp’s dividend payout ratio (DPR) is currently 43.48%.

Analyst Ratings Changes

Separately, DA Davidson restated a “neutral” rating on shares of S&T Bancorp in a research report on Wednesday, July 27th.

Insiders Place Their Bets

In other S&T Bancorp news, Director William J. Hieb sold 3,682 shares of S&T Bancorp stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $28.25, for a total value of $104,016.50. Following the transaction, the director now directly owns 39,033 shares of the company’s stock, valued at approximately $1,102,682.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.45% of the company’s stock.

S&T Bancorp Company Profile

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