California State Teachers Retirement System Decreases Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

California State Teachers Retirement System cut its stake in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,751 shares of the financial services provider’s stock after selling 418 shares during the period. California State Teachers Retirement System owned about 0.09% of S&T Bancorp worth $1,366,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC increased its holdings in S&T Bancorp by 124.4% during the third quarter. Barclays PLC now owns 74,236 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 41,148 shares during the last quarter. SG Americas Securities LLC purchased a new stake in S&T Bancorp during the fourth quarter valued at approximately $166,000. Janney Montgomery Scott LLC increased its holdings in S&T Bancorp by 20.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,494 shares of the financial services provider’s stock valued at $516,000 after buying an additional 2,328 shares during the last quarter. KBC Group NV increased its stake in shares of S&T Bancorp by 55.0% in the 4th quarter. KBC Group NV now owns 2,324 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 825 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of S&T Bancorp by 18.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,690 shares of the financial services provider’s stock worth $1,065,000 after purchasing an additional 4,374 shares in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

S&T Bancorp Stock Up 2.3%

NASDAQ STBA opened at $37.17 on Monday. 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 company has a fifty day moving average of $36.24 and a two-hundred day moving average of $38.24. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 10.90 and a beta of 0.90. S&T Bancorp, Inc. has a 52 week low of $29.85 and a 52 week high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $93.75 million during the quarter, compared to analyst estimates of $96.40 million. On average, analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, May 15th. S&T Bancorp’s dividend payout ratio (DPR) is currently 39.19%.

Wall Street Analysts Forecast Growth

STBA has been the subject of a number of analyst reports. Wall Street Zen cut S&T Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Keefe, Bruyette & Woods reduced their target price on shares of S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating for the company in a report on Monday, April 28th.

About S&T Bancorp

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.