PNC Financial Services Group Inc. Reduces Position in S&T Bancorp, Inc. (NASDAQ:STBA)

PNC Financial Services Group Inc. lessened its holdings in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,864 shares of the financial services provider’s stock after selling 322 shares during the period. PNC Financial Services Group Inc. owned 0.05% of S&T Bancorp worth $773,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake in shares of S&T Bancorp by 824.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,220 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,088 shares during the period. GAMMA Investing LLC grew its stake in shares of S&T Bancorp by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 1,762 shares of the financial services provider’s stock valued at $65,000 after buying an additional 520 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of S&T Bancorp by 7.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider’s stock valued at $192,000 after buying an additional 367 shares during the period. US Bancorp DE grew its stake in shares of S&T Bancorp by 1,015.1% in the 1st quarter. US Bancorp DE now owns 5,754 shares of the financial services provider’s stock valued at $213,000 after buying an additional 5,238 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of S&T Bancorp in the 4th quarter valued at approximately $230,000. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Price Performance

Shares of STBA opened at $36.35 on Tuesday. S&T Bancorp, Inc. has a twelve month low of $30.84 and a twelve month high of $45.46. The firm’s fifty day simple moving average is $37.68 and its 200-day simple moving average is $37.60. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.66 and a beta of 0.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. S&T Bancorp had a net margin of 23.39% and a return on equity of 9.32%. The business had revenue of $100.07 million for the quarter, compared to analyst estimates of $99.30 million. Equities analysts forecast that S&T Bancorp, Inc. will post 3.05 EPS for the current fiscal year.

S&T Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, August 14th. S&T Bancorp’s dividend payout ratio (DPR) is 39.88%.

Analyst Upgrades and Downgrades

STBA has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased 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 report on Monday, April 28th. Hovde Group assumed coverage on shares of S&T Bancorp in a report on Friday, June 27th. They set a “market perform” rating and a $41.00 target price on the stock. Piper Sandler assumed coverage on shares of S&T Bancorp in a report on Friday, July 18th. They set a “neutral” rating and a $42.00 target price on the stock. Finally, Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th.

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.