Maryland State Retirement & Pension System Sells 446 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Maryland State Retirement & Pension System decreased its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,331 shares of the financial services provider’s stock after selling 446 shares during the period. Maryland State Retirement & Pension System’s holdings in S&T Bancorp were worth $445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in S&T Bancorp by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,616,732 shares of the financial services provider’s stock worth $154,291,000 after buying an additional 52,075 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in S&T Bancorp by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,384,380 shares of the financial services provider’s stock worth $79,687,000 after buying an additional 30,384 shares in the last quarter. Bank of New York Mellon Corp lifted its position in S&T Bancorp by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 468,343 shares of the financial services provider’s stock worth $15,638,000 after buying an additional 4,126 shares in the last quarter. Norges Bank acquired a new position in S&T Bancorp during the 4th quarter worth about $9,055,000. Finally, Earnest Partners LLC lifted its position in S&T Bancorp by 569.7% during the 1st quarter. Earnest Partners LLC now owns 240,136 shares of the financial services provider’s stock worth $7,704,000 after buying an additional 204,281 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STBA. StockNews.com downgraded shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. DA Davidson upped their target price on shares of S&T Bancorp from $32.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 19th.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $42.58 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a 1 year low of $24.51 and a 1 year high of $45.79. The company has a market cap of $1.63 billion, a PE ratio of 12.06 and a beta of 0.79. The company’s 50-day moving average is $39.37 and its two-hundred day moving average is $34.08.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. S&T Bancorp had a net margin of 24.20% and a return on equity of 10.63%. The company had revenue of $142.07 million for the quarter, compared to the consensus estimate of $95.85 million. During the same period in the prior year, the company posted $0.89 EPS. Equities analysts anticipate that S&T Bancorp, Inc. will post 3.31 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.33 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.10%. S&T Bancorp’s dividend payout ratio is 37.39%.

Insider Activity at S&T Bancorp

In related news, Director William J. Hieb sold 11,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $31.05, for a total value of $341,550.00. Following the sale, the director now directly owns 31,770 shares in the company, valued at approximately $986,458.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

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.