S&T Bancorp, Inc. (NASDAQ:STBA) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,165 shares of the financial services provider’s stock after selling 1,754 shares during the quarter. Maryland State Retirement & Pension System’s holdings in S&T Bancorp were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its holdings in S&T Bancorp by 0.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 39,655 shares of the financial services provider’s stock valued at $1,512,000 after acquiring an additional 254 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in S&T Bancorp by 7.6% in the first quarter. Nisa Investment Advisors LLC now owns 5,187 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 367 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in S&T Bancorp by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 151,252 shares of the financial services provider’s stock valued at $5,781,000 after acquiring an additional 410 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in S&T Bancorp by 1.5% in the first quarter. Confluence Wealth Services Inc. now owns 31,271 shares of the financial services provider’s stock valued at $1,132,000 after acquiring an additional 465 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in S&T Bancorp by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 20,761 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 479 shares during the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

S&T Bancorp Trading Down 2.3%

NASDAQ:STBA opened at $37.18 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.00. S&T Bancorp, Inc. has a one year low of $30.84 and a one year high of $45.46. The business’s 50-day simple moving average is $37.78 and its 200 day simple moving average is $37.60. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 10.90 and a beta of 0.93.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. S&T Bancorp had a return on equity of 9.32% and a net margin of 23.39%. The business had revenue of $100.07 million for the quarter, compared to analysts’ expectations of $99.30 million. As a group, sell-side analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.7%. S&T Bancorp’s payout ratio is 39.88%.

Analysts Set New Price Targets

STBA has been the topic of a number of research analyst reports. Wall Street Zen upgraded S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Piper Sandler initiated coverage on S&T Bancorp in a research report on Friday, July 18th. They issued a “neutral” rating and a $42.00 target price for the company. Hovde Group initiated coverage on S&T Bancorp in a research report on Friday, June 27th. They set a “market perform” rating and a $41.00 price target on the stock. Finally, Keefe, Bruyette & Woods reduced their price target 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.

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.