Rhumbline Advisers Trims Position in S&T Bancorp, Inc. $STBA

Rhumbline Advisers lessened its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,145 shares of the financial services provider’s stock after selling 5,136 shares during the period. Rhumbline Advisers owned 0.28% of S&T Bancorp worth $3,970,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in S&T Bancorp by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,574,596 shares of the financial services provider’s stock valued at $58,339,000 after purchasing an additional 81,469 shares during the period. Nuveen LLC purchased a new position in S&T Bancorp during the 1st quarter valued at about $13,151,000. Bridgeway Capital Management LLC increased its position in S&T Bancorp by 1.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 289,222 shares of the financial services provider’s stock valued at $10,716,000 after purchasing an additional 2,767 shares during the period. Principal Financial Group Inc. increased its position in S&T Bancorp by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider’s stock valued at $7,669,000 after purchasing an additional 5,290 shares during the period. Finally, ProShare Advisors LLC increased its position in S&T Bancorp by 8.0% during the 4th quarter. ProShare Advisors LLC now owns 190,774 shares of the financial services provider’s stock valued at $7,291,000 after purchasing an additional 14,107 shares during the period. Hedge funds and other institutional investors own 65.22% of the company’s stock.

S&T Bancorp Stock Performance

Shares of NASDAQ STBA opened at $39.05 on Monday. 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, Inc. has a 12 month low of $30.84 and a 12 month high of $45.46. The company has a 50 day simple moving average of $38.37 and a two-hundred day simple moving average of $37.45. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 11.45 and a beta of 0.99.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $99.30 million. As a group, analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current year.

S&T Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, August 14th. S&T Bancorp’s payout ratio is presently 39.88%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STBA shares. Piper Sandler started coverage on shares of S&T Bancorp in a research report on Friday, July 18th. They issued a “neutral” rating and a $42.00 price objective on the stock. Wall Street Zen upgraded shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Hovde Group initiated coverage on shares of S&T Bancorp in a research note on Friday, June 27th. They issued a “market perform” rating and a $41.00 target price for the company. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

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.