Rhumbline Advisers Sells 5,136 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Rhumbline Advisers lowered its holdings in S&T Bancorp, Inc. (NASDAQ:STBA) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,145 shares of the financial services provider’s stock after selling 5,136 shares during the period. Rhumbline Advisers owned about 0.28% of S&T Bancorp worth $3,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in STBA. Sterling Capital Management LLC grew its position in S&T Bancorp by 824.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,088 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of S&T Bancorp by 67.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 502 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of S&T Bancorp during the 4th quarter worth about $153,000. Bailard Inc. acquired a new position in shares of S&T Bancorp during the 4th quarter worth about $206,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of S&T Bancorp during the 4th quarter worth about $230,000. Institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STBA. Wall Street Zen lowered shares of S&T Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Keefe, Bruyette & Woods lowered their price objective on shares of S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th.

S&T Bancorp Stock Down 2.2%

Shares of STBA opened at $36.46 on Friday. S&T Bancorp, Inc. has a 52 week low of $29.85 and a 52 week high of $45.79. The firm has a market cap of $1.40 billion, a P/E ratio of 10.69 and a beta of 0.90. The firm’s 50-day simple moving average is $36.46 and its 200 day simple moving average is $38.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 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 business had revenue of $93.75 million for the quarter, compared to analyst estimates of $96.40 million. On average, analysts forecast that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.34 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 3.73%. S&T Bancorp’s dividend payout ratio (DPR) is currently 39.19%.

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.