S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,711 shares of the financial services provider’s stock after selling 13,564 shares during the period. Bank of New York Mellon Corp owned 1.02% of S&T Bancorp worth $14,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its position in S&T Bancorp by 0.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 39,655 shares of the financial services provider’s stock worth $1,512,000 after buying an additional 254 shares during the period. Wells Fargo & Company MN grew its position in shares of S&T Bancorp by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider’s stock worth $5,781,000 after acquiring an additional 410 shares in the last quarter. Confluence Wealth Services Inc. lifted its holdings in shares of S&T Bancorp by 1.5% in the 1st quarter. Confluence Wealth Services Inc. now owns 31,271 shares of the financial services provider’s stock worth $1,132,000 after purchasing an additional 465 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of S&T Bancorp by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 20,761 shares of the financial services provider’s stock worth $769,000 after purchasing an additional 479 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in S&T Bancorp by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 63,077 shares of the financial services provider’s stock valued at $2,337,000 after acquiring an additional 497 shares in the last quarter. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STBA has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their target price 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. Piper Sandler started coverage on S&T Bancorp in a research report on Friday. They issued a “neutral” rating and a $42.00 price objective for the company. Hovde Group assumed coverage on S&T Bancorp in a research report on Friday, June 27th. They set a “market perform” rating and a $41.00 target price for the company. Finally, Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday.

S&T Bancorp Price Performance

Shares of NASDAQ STBA opened at $39.12 on Friday. The business’s 50 day moving average price is $37.79 and its two-hundred day moving average price is $37.58. The company has a market cap of $1.50 billion, a PE ratio of 11.27 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.79.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. S&T Bancorp had a return on equity of 9.71% and a net margin of 23.84%. The business had revenue of $93.75 million during the quarter, compared to analysts’ expectations of $96.40 million. On average, analysts predict that S&T Bancorp, Inc. will post 3.05 EPS for the current year.

S&T Bancorp Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.36 annualized dividend and a dividend yield of 3.48%. S&T Bancorp’s dividend payout ratio (DPR) is presently 39.19%.

S&T Bancorp Company 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.