Teacher Retirement System of Texas Reduces Holdings in S&T Bancorp, Inc. (NASDAQ:STBA)

Teacher Retirement System of Texas decreased its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 39.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,189 shares of the financial services provider’s stock after selling 10,988 shares during the period. Teacher Retirement System of Texas’ holdings in S&T Bancorp were worth $637,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings 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 acquiring an additional 1,088 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of S&T Bancorp by 41.9% during the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 520 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of S&T Bancorp during the 4th quarter valued at about $153,000. Dark Forest Capital Management LP purchased a new position in shares of S&T Bancorp during the fourth quarter valued at about $230,000. Finally, Pictet Asset Management Holding SA bought a new position in S&T Bancorp in the fourth quarter worth about $233,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STBA. Keefe, Bruyette & Woods cut their price objective on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Hovde Group began coverage on S&T Bancorp in a research note on Friday, June 27th. They issued a “market perform” rating and a $41.00 price target on the stock. Finally, Wall Street Zen downgraded S&T Bancorp from a “hold” rating to a “sell” rating in a report on Saturday.

S&T Bancorp Price Performance

STBA stock opened at $38.44 on Wednesday. S&T Bancorp, Inc. has a 52-week low of $30.84 and a 52-week high of $45.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 11.08 and a beta of 0.89. The firm has a 50 day moving average price of $37.70 and a 200-day moving average price of $37.56.

S&T Bancorp (NASDAQ:STBA) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $93.75 million for the quarter, compared to analysts’ expectations of $96.40 million. S&T Bancorp had a return on equity of 9.71% and a net margin of 23.84%. Equities research analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, May 15th. S&T Bancorp’s payout ratio is 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.