Brookstone Capital Management Sells 1,841 Shares of S&T Bancorp, Inc. (NASDAQ:STBA)

Brookstone Capital Management reduced its stake in S&T Bancorp, Inc. (NASDAQ:STBA) by 3.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 52,720 shares of the financial services provider’s stock after selling 1,841 shares during the quarter. Brookstone Capital Management owned approximately 0.14% of S&T Bancorp worth $1,691,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its stake in S&T Bancorp by 5.7% in the 4th quarter. Diversified Trust Co now owns 10,786 shares of the financial services provider’s stock valued at $360,000 after buying an additional 584 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in S&T Bancorp by 5,870.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,015 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 998 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in S&T Bancorp by 7.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,971 shares of the financial services provider’s stock valued at $768,000 after buying an additional 1,661 shares during the last quarter. Alps Advisors Inc. grew its holdings in S&T Bancorp by 32.2% in the 3rd quarter. Alps Advisors Inc. now owns 12,320 shares of the financial services provider’s stock valued at $334,000 after buying an additional 3,000 shares during the last quarter. Finally, Bare Financial Services Inc acquired a new position in shares of S&T Bancorp during the fourth quarter worth approximately $145,000. Institutional investors own 65.22% of the company’s stock.

Insider Activity

In related news, Director William J. Hieb sold 11,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $31.05, for a total value of $341,550.00. Following the completion of the transaction, the director now owns 31,770 shares of the company’s stock, valued at $986,458.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of S&T Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday.

S&T Bancorp Trading Up 2.5 %

Shares of STBA opened at $33.39 on Friday. The stock’s 50-day moving average price is $31.60 and its 200 day moving average price is $31.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.46 and a beta of 0.79. S&T Bancorp, Inc. has a 12-month low of $24.51 and a 12-month high of $36.28.

S&T Bancorp (NASDAQ:STBA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $96.31 million for the quarter, compared to analysts’ expectations of $96.30 million. S&T Bancorp had a return on equity of 10.86% and a net margin of 24.68%. As a group, research analysts predict that S&T Bancorp, Inc. will post 3.02 earnings per share for the current year.

S&T Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, May 8th. S&T Bancorp’s payout ratio is 37.39%.

S&T Bancorp Profile

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that engages in the provision of retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Commercial Construction, Business Banking, Consumer Real Estate, and Other Consumer.