S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by IFP Advisors Inc

IFP Advisors Inc cut its position in shares of S&T Bancorp, Inc. (NASDAQ:STBA) by 16.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,988 shares of the financial services provider’s stock after selling 400 shares during the period. IFP Advisors Inc’s holdings in S&T Bancorp were worth $75,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in S&T Bancorp by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 4,616,780 shares of the financial services provider’s stock worth $176,453,000 after purchasing an additional 160,453 shares during the last quarter. Northern Trust Corp raised its holdings in shares of S&T Bancorp by 21.7% in the fourth quarter. Northern Trust Corp now owns 483,413 shares of the financial services provider’s stock worth $18,476,000 after acquiring an additional 86,317 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of S&T Bancorp by 2.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 286,455 shares of the financial services provider’s stock worth $10,948,000 after acquiring an additional 6,620 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of S&T Bancorp by 2.6% in the first quarter. Principal Financial Group Inc. now owns 206,985 shares of the financial services provider’s stock worth $7,669,000 after acquiring an additional 5,290 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of S&T Bancorp by 8.0% in the fourth quarter. ProShare Advisors LLC now owns 190,774 shares of the financial services provider’s stock worth $7,291,000 after acquiring an additional 14,107 shares during the last quarter. 65.22% of the stock is owned by institutional investors and hedge funds.

S&T Bancorp Stock Performance

S&T Bancorp stock opened at $36.87 on Thursday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 10.81 and a beta of 0.89. The stock has a fifty day moving average price of $37.74 and a 200 day moving average price of $37.64. S&T Bancorp, Inc. has a 52 week low of $30.84 and a 52 week high of $45.70. 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 released its earnings results 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. The firm had revenue of $100.07 million during the quarter, compared to analyst estimates of $99.30 million. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.69%. S&T Bancorp’s payout ratio is currently 39.88%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STBA shares. Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Keefe, Bruyette & Woods cut their price target on S&T Bancorp from $44.00 to $43.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Hovde Group started coverage on S&T Bancorp in a report on Friday, June 27th. They issued a “market perform” rating and a $41.00 price target for the company. Finally, Piper Sandler started coverage on S&T Bancorp in a report on Friday, July 18th. They issued a “neutral” rating and a $42.00 price target for the company.

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.